(1) Notwithstanding anything contained in the Punjab Municipal Act, 1911 (Punjab Act 3 of 1911) or as the case may be, the Punjab District Boards Act, 1883, (20 of 1883) as in force in Delhi, as from the commencement of this Act,--
         (a) the persons who immediately before such commencement are members of any of the local authorities specified in items 1 to 10 of the Second Schedule shall cease to be such members;
         (b) all the powers, duties and functions which may, under any of the aforesaid Acts or any other law, be exercised and performed by any such local authority, or by its President or Chairman, or by any Committee thereof shall, until the establishment of ¹[²[the Corporation]], be exercised and performed by a person (whether an officer of Government or not) to be appointed by the Central Government with such designation as it may specify:
     Provided that the same person may be appointed in respect of all the aforesaid local authorities.
     (2) Nothing in sub-section (1) shall be construed as effecting or implying in any way the dissolution of the aforesaid local authorities as bodies corporate.