law: 4. Effect of establishment of University.-
  On and from the date of commencement of this Act,-
  (a) the societies, namely, the Rashtriya Sanskrit Sansthan, New Delhi, Shri Lal Bahadur Shastri Rashtriya Sanskrit Vidyapeeth, New Delhi and the Rashtriya Sanskrit Vidyapeeth, Tirupati shall stand dissolved;
  (b) any reference to a society or to a deemed to be University in any law (other than this Act) or in any contract or other instrument shall be deemed as a reference to the corresponding University established and incorporated under this Act;
  (c) all properties, movable and immovable, of or belonging to a society or to a deemed to be University shall vest in the corresponding University established and incorporated under this Act;
  (d) all rights and liabilities of a society or of a deemed to be University shall be transferred to, and be the rights and liabilities of, the corresponding University established and incorporated under this Act;
  (e) every person employed by a society or a deemed to be University immediately before such commencement shall hold his office or service in the corresponding University established and incorporated under this Act, by the same tenure, at the same remuneration and upon the same terms and conditions and with the same rights and privileges as to pension, leave, gratuity, provident fund and other matters as they would have held the same if this Act had not been enacted and shall continue to do so unless and until their employment is terminated or until such tenure, remuneration and terms and conditions are duly altered by the Executive Council or the Statutes:
  Provided that if the alteration so made is not acceptable to such employee, his employment may be terminated by the University in accordance with the term of the contract with the employee or, if no provision is made therein in this behalf, on payment to him by the University of compensation equivalent to three months' remuneration in case of permanent employees and one month's remuneration in the case of other employees:
  Provided further that every person employed before the commencement of this Act, pending the execution of a contract under section 34, shall be deemed to have been appointed in accordance with the provisions of a contract consistent with the provisions of this Act and the Statutes: Provided also that any reference, by whatever form of words, to the Vice-Chancellor of a deemed to be University in any law forthe time being in force, or in any contract or other document, shall be construed as a reference to the Vice-Chancellor of the corresponding University established and incorporated under this Act;
  (f) the Vice-Chancellor of a deemed to be University appointed prior to the commencement of this Act and holding office as such, shall be deemed to have been appointed as the Vice-Chancellor of the corresponding University under this Act;
  (g) all Colleges, Institutions, Schools of Studies, and Departments affiliated to, or admitted to the privileges of, or maintained by, the deemed to be University shall stand affiliated to, or admitted to the privilege of, or maintained by, the corresponding University established and incorporated under this Act.