This Act may be called the Manipur and Tripura (Repeal of Laws) Act, 1958.

On and from the date on which the Assam Co-operative Societies Act, 1949 (Assam Act 1 of 1950), is extended by notification under Section 2 of the Union Territories (Laws) Act, 1950 (30 of 1950), to the Union Territory of Manipur, the Manipur Co-operative Societies Act, 1947, shall stand repealed.

On and from the date on which the Bombay Co-operative Societies Act, 1925 (Bombay Act 7 of 1925), or the Bombay Money-lenders Act, 1946 (Bombay Act 31 of 1947), is extended by notification under Section 2 of the Union Territories (Laws) Act, 1950 (30 of 1950), to the Union Territory of Tripura, the Tripura Co-operative Societies Act of 1358 T.E. (2 of 1313 T.E.), or the Tripura Kushid Niyamak Bidhi, as the case may be, shall stand repealed.

(1) The repeal of any law by Section 2 or Section 3 shall not affect

(a) the previous operation of such law or anything duly done or suffered thereunder;

(b) any right, privilege, obligation or liability acquired, accrued or incurred under such law,

(c) any penalty, forfeiture or punishment incurred in respect of any offence committed against such law, or

(d) any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty, forfeiture or punishment as aforesaid;

and any such investigation, legal proceeding or remedy may be instituted, continued or enforced and any such penalty, forfeiture or punishment may be imposed, as if such law had not been repealed.

(2) Subject to the provisions contained in sub-section (1), anything done or any action taken (including any appointment or delegation made, notification, instruction or direction issued, form, bye-law or scheme framed, certificate obtained, permit or licence granted or registration effected) under any law repealed by Section 2 or Section 3 shall be deemed to have been done or taken under the corresponding provisions of the Act extended by notification as provided in that section to the Union Territory of Manipur or Tripura, as the case may be, and shall continue to be in force accordingly unless and until superseded by anything done or any action taken under the said Act.