Section 114. Savings of Existing Cooperative Societies.

(1) Every co-operative society existing at the commencement of this Act which has been registered or deemed to have been registered under the Co-operative Societies Act, 1912 shall be deemed to be registered under this Act; and its bye-law shall, in so far they are not inconsistent with the provision of this Act continue in force until altered or rescinded and shall to such extent be deemed to be registered under this Act. (2) All appointment rules and orders made, notifications and notices issued all transactions entered into and all suits and other proceedings instituted under this said Act shall continue and shall, so far as may be, be deemed to have been respectively made, issued, entered into or instituted under this Act.