(1) The Commission shall, on the appointed date, accept into its employment every person who immediately before that date was employed in the office of the Registrar of Companies and the Registrar of Businesses and who was given an option by the Government of Malaysia and has opted to serve as an employee of the Commission.
(2) Every such person who opts under subsection (1) to serve as an employee of the Commission shall be employed by the Commission on terms and conditions of service not less favourable than the terms and conditions of service to which he was entitled immediately before the appointed date.
(3) Until such time as the terms and conditions of service of its employees are drawn up by the Commission, the scheme and terms and conditions of service of employees of the Government shall continue to apply to every person employed by the Commission under subsection (1) .
(4) The Minister may by order make such modifications as may be necessary to the scheme and terms and conditions referred to in subsection (3) for the purpose of removing difficulties as a consequence of the provisions of that subsection.