Notwithstanding anything contained in the Co-operative Societies Act and the rules and bye-laws made thereunder,-
(a) during the period this Act is in operation, no election to the committee, or election to fill any casual vacancy in the committee, of any Co-operative Sugar Factory under erection shall be held, even though an election programme may have been announced in any case ;
(@i/i@) the term of office of members of the committee or of administrators of every Co-operative Sugar Factory under erection, who were in office on the date of commencement of this Act (whether their term had expired before or will expire after the said date at any time during the period this Act is in operation) shall be deemed to have been extended or to be extended, as the case may be; and such members or administrators, as the case may be, shall hold office during the period this Act is in operation.