- Nothing anything contained in this Act or the rules made thereunder or the bye-laws of the bank, a person who at the commencement of the Gujarat Co- operative Societies (Amendment) Act, 2002 (Gujarat 13 of 2002) is holding the office of the Chairman, Vice-Chairman or Managing Director (if such Director is elected) of a committee continuously for a period not less than six years shall, unless he resigns or in removed earlier, cease to hold that office either on the date when the new Chairman, Vice-Chairman or, as the case may be, Managing Director is elected or on the 30th June, 2002, whichever is earlier.]