Saving of existing societies

Every society which has been registered under the Co-operative Credit Societies Act, 1904, or the Co-operative Societies Act, 1912, or the Co-operative Societies Act, 1954, or the Punjab Co-operative Societies Act, 1961, shall be deemed to be registered under the corresponding provisions of this Act, and its bye-laws shall, so far as the same are not inconsistent with the provisions of this Act, continue in force until altered or rescinded.