law: The Actuaries Act, 2006
  49. Provisions
  
  respecting employees of dissolved society. - 
  1. 
  
   Every
  
  person employed in the dissolved society and continuing in its employment
  
  immediately before the commencement of this Act shall, as from such
  
  commencement, become an employee of the Institute, shall hold his office or
  
  service therein by the same tenure and upon the same terms and conditions and
  
  with the same rights and privileges as to retirement benefits as he would have
  
  held the same under the dissolved society if this Act had not been passed, and
  
  shall, continue to do so unless and until his employment in the Institute is
  
  terminated or until his remuneration, terms and conditions of employment are
  
  duly altered by the Institute.
  2. 
  
   Notwithstanding
  
  anything contained in the Industrial Disputes Act, 1947 or in any other law for
  
  the time being in force, the transfer of the services of any employee of the
  
  dissolved society to the Institute shall not entitle any such employee to any
  
  compensation under that Act or other law, and no such claims shall be
  
  entertained by any court, tribunal or other authority.