(1) All debts and obligations incurred, all contracts entered into with and all matters and things engaged to be done by, or for, the Municipality of Panaji and village panchayat areas indicated in Schedule I, before this Act comes into force shall be deemed to have been incurred, entered into with or engaged to be done by, or for, the Corporation as constituted under this Act.
(2) Every appointment, rule, bye-law, form, notification, notice, tax, fees, levy, scheme, order, licence or permission/legal proceedings, process made, issued, imposed, sanctioned or given under the Goa Municipalities Act, 1968, or Goa Panchayat Raj Act, --17-- 1993, shall so far as it relates to the Municipality of Panaji or any panchayat area mentioned in Schedule I and so far as it is in force at the commencement of, and is not inconsistent with, this Act, be deemed to have been made, issued, imposed, sanctioned or given under the provisions of this Act, and shall unless previously altered, modified, cancelled, suspended, surrendered or withdrawn, as the case may be, under this Act remain in force for the period, if any, for which it was so made, issued, imposed, sanctioned or given:
Provided however, in matters concerning construction, sale of articles, trading and in all other matters the presently existing bye-laws applicable to Panaji Municipal Council immediately prior to commencement of this Act, shall continue to apply to the Corporation area until new bye-laws are framed under this Act and the earlier bye-laws made applicable under this Act are repealed or superseded;
(3) All rates, taxes, fees, levies and sums of money, due to the Municipality of Panaji or any panchayat area mentioned in Schedule I when this Act comes into force, shall be deemed to be due to the Corporation;
(4) All suits or other legal proceedings, civil or criminal, instituted, by or against the Municipality of Panaji or any panchayat area mentioned in Schedule I may be continued by or against the Corporation.