Transfer/takeover of staff

(1) The civil servants of the Federal Supervisory Offices for Banking, Insurance and Securities Trading become, with effect from 1 May 2002, civil servants of BaFin. Section 130(1) of the Civil Service Framework Act, in the version published on 31 March 1999 (Federal Law Gazette I, p. 654), applies accordingly.
(2) Insofar as the pension burden for BaFin's civil servants is not to be borne by the Federation under section 20, pension reserves must be formed at BaFin. The first sentence applies accordingly to pension entitlements of the members of the Executive Board.
(3) The salaried employees, workers and trainees employed at the Federal Supervisory Offices named in subsection (1) are, with effect from 1 May 2002, taken into BaFin's service. BaFin succeeds, without prejudice to section 10(1), to the rights and obligations under the employment and training relationships existing at the time of takeover.