(1) Notwithstanding anything in the Co-operative Societies Act, or the rules made thereunder or the bye-laws for the time being in force with effect on and from such date as the Government may, by notification, appoint in this behalf, the Andhra Handloom Weavers' Co-operative Society, the Hyderabad Handloom Weavers' Central Co-operative Association and the Rayalaseema Apex Weavers' Co-operative Society, shall stand amalgamated and shall be formed into a single new society, called the Telangana State Handloom Weavers’ Co-operative Society Limited having as the area of its operation the entire territory comprised in the State.
(2) On and from the appointed day-
(a) the registration of each of the amalgamated societies shall, stand cancelled and the said amalgamated societies shall be deemed to have been dissolved and shall cease to exist as corporate bodies;
(b) the new society and the bye-laws as framed by the Government or any officer authorised by them in this behalf shall be deemed to have been registered under the provisions of the Co-operative Societies Act and the Registrar shall issue the necessary Certificate of registration to the said new society.