Admission of land mortgage banks registered under the Madras Co-operative Societies Act, 1932, as members of the Central Mortgage Bank

Notwithstanding anything contained in the Travancore-Cochin Co-operative Societies Act, 1951, it shall be lawful for the Central Land Mortgage Bank, to admit as its member a co-operative land mortgage bank registered or deemed to be registered under the Madras Co-operative Societies Act, 1932; and any such admission made before the commencement of this Act shall be deemed to have been lawfully made.