(1) Notwithstanding anything contained in the Travancore- Cochin Literary, Scientific and Charitable Societies Registration Act, 1955 (Act XII of 1955), with effect on and from the date of coming into operation of the State Sports Council constituted under this Act, the existing Sports Council shall be deemed to have been dissolved.
(2) All properties and all rights of whatever kind used, enjoyed or possessed by and all interests of whatever kind owned in or vested in or held by, the existing Sports Council and all liabilities legally subsisting against it shall, with effect on and from the date specified in sub-section (1) and subject to such directions, as may be issued by the Government in this behalf, vest in the State Sports Council.
(3) Upon the constitution of the State Sports Council under this Act, every officer or other employee employed in connection with the affairs of the existing Sports Council shall become an officer or other employee of the State Sports Council and shall hold his office for the same tenure, at the same remuneration and upon the same terms and conditions and with the same rights and privileges as to pension, gratuity and other matters as he would have held under the existing Sports Council, if this section had not been enacted and shall continue to hold office unless and until his employment in the State Sports Council is terminated in accordance with law or until his remuneration, terms and conditions are duly altered by the State Sports Council.
(4) Notwithstanding anything contained in sub-section(3), any officer of Government, deputed for employment in connection with the affairs of the existing Sports Council and employed as such immediately before the date of commencement of this Act shall stand reverted to the service of the Government.
CHAPTER VII FINANCE, ACCOUNTS AND AUDIT