Section 172. Saving of existing societies.

(1) Any Co-operative society now existing which has been registered under the Co-operative Societies Act, 1960 shall be deemed to be registered under this Act, and its bye-laws shall so far as the same are not inconsistent with the express provisions of this Act, continue in force until altered or rescinded. (2) All appointments rules and orders made, notifications and notices issued and suits and other proceedings instituted under the said Act shall, so far as may be, be deemed to have been respectively made, issued and instituted under this Act.