Co-operative Societies (Special Provisions)

(1) The Co-operative Societies (Special Provisions) Law, No. 12 of 1978 shall, notwithstanding the provisions of section 9 of that Law, be deemed for all purposes to be and to have been in operation for a period of twenty-four months commencing on the 20th day of July, 1978.

(2) Notwithstanding the expiration of the Co-operative Societies (Special Provisions) Law, No. 12 of 1978, by reason of the operation of the provisions of section 9 of that Law -

(a) every person appointed by Order made by the Minister under subsection (3) of section 2 or subsection (4) of section 2 of that Law, to manage and administer the affairs of a registered society, shall be deemed to have validly continued to act in such office;

(b)any power, right or privilege exercised by such person referred to in paragraph (a), under the provisions of paragraph (a) and paragraph (b) of subsection (5) of section 2 of that Law, shall be deemed to have been validly exercised ;

(c)any liability incurred by such person referred to in paragraph (a), under the provisions of subsection (6) of section 2 of that Law, shall be deemed to have continued;

(d)any allowances paid to such person referred to in paragraph (a), under the provisions of subsection (8) of section 2 of that Law, shall be deemed to have been validly paid ; and

(e) all acts performed by such person referred to in paragraph (a), under the provisions of that Law, shall be deemed to have been validly performed,

during the period commencing on the 19th day of January, and the date of commencement of this Act.