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    <description>Provisions of pre-existing State laws relating to co-operative societies that are inconsistent with this Part continue in force temporarily until amended or repealed by a competent legislature or authority, or until the expiration of the one-year transitional period from commencement, whichever is earlier, thereby operating as a savings provision to preserve existing state regulatory arrangements pending legislative action.</description>
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      <description>Provisions of pre-existing State laws relating to co-operative societies that are inconsistent with this Part continue in force temporarily until amended or repealed by a competent legislature or authority, or until the expiration of the one-year transitional period from commencement, whichever is earlier, thereby operating as a savings provision to preserve existing state regulatory arrangements pending legislative action.</description>
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