(1) The rights and obligations of the former employer ensuing from the contract of employment or employment relationships in force on the date of transfer shall be transferred to the new employer. Claims pursuant to the first paragraph may still be raised against the former employer.(2) The new employer shall be bound by any collective pay agreement that was binding upon the former employer. This shall not apply if the new employer within three weeks after the date of transfer at the latest declares in writing to the trade union that the new employer does not wish to be bound. The transferred employees have nevertheless the right to retain the individual working conditions that follow from a collective pay agreement that was binding upon the former employer. This shall apply until this collective pay agreement expires or until a new collective pay agreement is concluded that is binding upon the new employer and the transferred employees.(3) The employees' right to earn further entitlement to retirement pension, survivor's pension and disability pension in accordance with a collective service pension scheme shall be transferred to the new employer pursuant to the provisions of the first and second paragraph. The new employer may elect to make existing pension schemes applicable to the transferred employees. If the employees' previous pension schemes cannot be maintained after the transfer, the new employer shall ensure the transferred employees the right to further earning of pension entitlement through another collective pension scheme.
