23. Notwithstanding anything contained in any other law for the time being in force or in any contract or agreement or in any other instrument or notification or order, on the commencement of this Ordinance,- (a) all assets, rights, powers, authorities and privileges and all properties, movable and immovable, cash and bank balances, grants and funds of the erstwhile Associated Press in Bangladesh and vested in the Government under the Bangladesh (Vesting of Property and Assets) Order, 1972 (P.O. No. 29 of 1972), and all other rights and interests in, or arising out of, such properties and all books of accounts, register, records and all other documents of whatever nature relating thereto shall stand transferred to, and vested in, the Sangstha; (b) all debts, liabilities and obligation of whatever kind of the erstwhile Associated Press in, and in relation to, Bangladesh shall, unless the Government otherwise directs, be the debts, liabilities and obligations of the Sangstha; (c) every officer or other employee of the erstwhile Associated Press serving in Bangladesh immediately before the commencement of this Ordinance shall stand transferred to the Sangstha and continue to be in the service of the Sangstha on the same terms and conditions as were applicable to them immediately before the commencement of this Ordinance: Provided that if an officer or other employee is considered by the Sangstha as surplus of requirement, his employment shall be terminated by the Sangstha with due notice and with such compensation as may be prescribed: Provided further that, notwithstanding anything contained in any terms and conditions of service or in any award, settlement or agreement for the time being in force, the Government or the Sangstha, with the prior approval of the Government, may alter the remuneration, whether by way of reduction or otherwise, and other terms and conditions of service of any officer or other employee.