With effect on and from the specified day, the Telangana State Handloom Weavers Co-operative Society (Formation) Act, 1976 shall have effect subject to the modification that for section 6, the following section shall be substituted, namely:
"6. Management of the affairs of the new Societies. (1) Notwithstanding anything in this Act, the Co-operative Societies Act, or the rules made thereunder or the bye-laws for the time being in force, the management of the affairs of the new society shall vest in the Committee consisting of the following members, namely:-
[(i) one representative of the primary handloom weavers co-operative societies (other than primary Wool Weavers Co-operative Societies) in each District to be elected from among themselves by the delegates of such societies.]
(ii) one representative of the primary handloom wool weavers co-operative societies to be elected from among themselves by the delegates of such class of societies in the State;
(iii) three nominees of the Government consisting of;-
(a) Director of Handlooms and Textiles;
(b) Joint Secretary to Government to Deputy Secretary to Government in the Industries and Commerce Department dealing with the Handloom Industry;
(c) one expert in Handlooms and Textiles, technology;-
(iv) Managing Director, Telangana State Co-operative Bank;
(v) Deputy General Manager, Regional Office of the National Bank for Agricultural and Rural Development, Hyderabad.
(vi) Regional Director, National Co-operative Development Corporation, Poona;
(vii) Managing Director, Telangana State Handloom Weavers Co-operative Society Limited.
(2) The elected members of the Committee shall elect from among themselves a Chairman".