If an incumbent managerial officer of a credit cooperative receives a promotion or takes office after the promulgation of these Regulations, the officer shall possess the qualifications set out herein. An officer who is promoted or takes office without possessing the required qualification shall be discharged ipso facto.

The Regulations herein shall come into force on the date of promulgation.
The provisions of the Regulations that are amended on December 10, 2014 shall come into force on June 10, 2017.