Cessation of registration under Act No. 21 of 1860

(1) Notwithstanding anything contained in any other law for the time being in force, the registration of all the Sports Associations, which are registered under the Societies Registration Act, 1860 and have opted for registration and recognition under Section 26, shall cease to exist from the date of such option; (2) Notwithstanding the cessation of Registration of an Association under sub-section (1), all the claims accrued or liabilities incurred or proceeding initiated prior to the commencement of this Act, shall be claimed, suffered or, as the case may be, continued as if the registration has not ceased to exist; (3) On cessation of registration of an Association under sub-section (1), the property of the Sports Association shall continue to vest in such persons or body of persons in whom the property vested immediately prior to the commencement of this Act.