If immediately before
the day the former Acts are repealed a co-operative company or registered
society has passed a special resolution to transfer to registration or
incorporation under another written law and the application for registration
or incorporation has been neither granted nor refused —
(a) the
special resolution is to be given effect under the former Act; and
(b) the
company or society continues to be incorporated and be regulated by the former
Act until the application for registration or incorporation is either granted
or refused.