(1) Every society now existing which has been registered under the Co-operative Credit Societies Act, 1904 (10 of 1904) or under the Co-operative Societies Act, 1912 (2 of 1912), or under the Bombay Co-operative Societies Act, 1925 (Bom. 7 of 1925) as in force in the Union territory of Delhi, shall be deemed to be registered under the corresponding provisions of this Act, and its bye-laws shall, so far as the same are not inconsistent with the express provisions of this Act, continue in force until altered or rescinded.
     (2) All appointments, rules and orders made, notifications and notices issued and suits and other proceedings instituted under the said Acts shall, so far as they are consistent with the provisions of this Act, be deemed to have been respectively made, issued and instituted under this Act, save that an order made cancelling the registration of a society shall be deemed, unless the society has already been finally liquidated, as an order issued under section 63 for its being wound up.