On and from the commencement of this Act,—

(i) all references in any enactment to the Society of the name of Visva-Bharati registered on the 16th May, 1922, under the Societies Registration Act, 1860 (21 of 1860), shall be construed as references to the University;

(ii) [ all property, assets, rights and liabilities of the said Society shall be the property, assets, rights and liabilities of the University and any will, deed or other document, whether made or executed before or after the commencement of this Act, which contains or purports to contain any bequest, gift, trust, payment of money or transfer or assignment of any right or property, movable or immovable, in favour of the said Society shall be construed as if the University was therein named instead of the said Society;] [Substituted by Act 60 of 1961 s. 5 for cl. (ii) (retrospectively). ]

(iii) subject to the provisions of this Act, every person employed immediately before the commencement of this Act in the said Society shall hold employment in the University by the same tenure and upon the same terms and conditions and with the same rights and privileges as to pension and gratuity as he would have held under the said Society, if this Act had not been passed: