Section 33

The successor company may reprimand, reduce in rank, retire, dismiss or punish in some other manner a person who had, while the person was in the employment of the Authority, been guilty of any misconduct or neglect of duty which would have rendered the person liable to be reprimanded, reduced in rank, retired, dismissed or punished in some other manner if the person had continued to be in the employment of the Authority, and if this Act had not been enacted.