(1) Notwithstanding anything contained in the foregoing provisions of this Part or any other law for the time being in force, any organisation, registered society or trust, incorporated at the behest of the State Government, shall, on and from the appointed day, and until otherwise provided for in any law for the time being in force, or in any agreement between the successor States, or in any direction issued by the Central Government in consultation with the successor States, continue to function in the areas in which it was functioning immediately before that day, and the Central Government may, after consulting the Governments of successor States, issue directions in relation to such functioning.
     (2) Any directions issued under sub-section (1) may include directions regarding the—
         (i) reconstitution of the Board of Directors of the organisation, society or trust by whatever name it may be called; or
         (ii) appointment of the Chief Executive by whatever name it may be called; or
         (iii) regulations or bye-laws, by whatever name they may be called; or
         (iv) assessment and apportionment of financial support, if any, provided by the existing State of Madhya Pradesh for meeting fixed charges.