Section 49 of the Co-operative Societies Act, 1912 – Saving of existing societies

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Section 49: Saving of existing societies

Every society now existing which has been registered under the Co-operative Credit Societies Act, 1904 (10 of 1904), shall be deemed to be registered under this Act, and its by-laws shall, so far as the same are not inconsistent with the express provisions of this Act, continue in force until altered or rescinded.

Source: official text of The Co-operative Societies Act, 1912 as published on India Code (PDF). All sections of the Co-operative Societies Act, 1912.

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