Section 11

Where an employee of the Corporation has been transferred to the service of the successor company under section 8 and on the transfer date any penalty (other than dismissal) has been imposed on the employee pursuant to disciplinary proceedings against him and the penalty has not been, or remains to be, served by the employee, he shall, on his transfer to the service of the successor company, serve or continue to serve such penalty to its full term as if it had been imposed by the successor company and the penalty shall remain valid against the employee on his transfer and shall continue in full force and effect until he has served the penalty in full.