Clause 67

For a period of 3 years starting on the date of commencement of section 23(a), that provision does not apply to an audit committee appointed before that date by the committee of management of a credit society, and section 36(2) of the principal Act as in force immediately before that date continues to apply to such an audit committee during that period.

Despite section 35, section 62(4) of the principal Act as in force immediately before the date of commencement of section 35 continues to apply to the minutes of a meeting of a committee of management that is held before that date.

Despite section 54, section 94 of the principal Act as in force immediately before the date of commencement of section 54 continues to apply to the committee of management of a society in respect of the performance of its duties before that date.

For a period of 2 years after the date of commencement of any provision of this Act, the Minister may, by rules, prescribe such additional provisions of a saving or transitional nature consequent on the enactment of that provision as the Minister may consider necessary or expedient.