Notw1thstanding anything contained in this Act: all assets, nghts and habthties of the Cochin Co-operative Land Mortgage Bank Limited, subststmg at the com mencement of Uus Act shall contmue to be the assets, nghts and liabilities of that bank and the provisions of the Cochin Co-operative Land Mortgage Banks Act XXV of illl, shall apply wah respect to· such assets, rights and liabilities 52 Repeal and Savings.-(1) The Kerala Co-operative Land 'l..t Mortgage Banks Act, 1960 (1 of 1960), is hereby repealed. 17'
(2) Notwithstanding such repeal, all appomtm<:>nts, rule~.
orders and transactwns made, notificatiOns and notkees ~ssued, and smts and other proceedmgs instituted, under the Act -hereby repealed shall, so far as may be, be deemed to have been respectively made, issued or mstttuted under this Act.
(3) The regulations made by the Board of DtreC'tors of the Kerala Co-operative Central Land Mortgage Bank Limited under the Act repealed by sub-sectwn (1) shall, in so far as they are not inconsistent wt'th the proviswns of this Act and the rules made thereunder, contmue m force until altered or rescinded under this Act.
( 4) The bye-laws made by any pnmary land mortgage bank before the commencement of thts Act shall, in so far as they are not mconsistent with the proviswns of this .Kct and the rules made thereunder. continue in force until altered or rescmded under thts Act.
( 5) The Board of Directors of the Kerala Co-operative Central Land Mortgage Bank L1m1ted and the committee of every primary land mortgage bank existing immediately before the com mencement of this Act, shall subject to the pro\"isions of the regulations or bye-laws, as the case may be, applicable thereto, continue to function as such till the expiry of its 'term in accordance with such regulations or bye-laws, as. the case may I"'C ' ~ i I J