Saving of existing Societies

Saving of existing Societies. –

1. (1) Every society now existing which has been registered under the Cooperative Societies Act. 1912 (2 of 1912), shall be deemed to be registered under this Act and its bye-laws shall, so far as they are not inconsistent with the express provisions of this Act, continue in force until altered or rescinded.
2. (2) All appointments, rules and orders made, notifications and notices issued, all transactions entered into, suit and other proceedings instituted under the said Acts, shall be deemed, so far as may be, to have been respectively made, issued, entered into and instituted, under this Act.