(1)Subject to the provisions of this section, the Calicut University Act, 1975 (5 of 1975), shall, with effect from the date of commencement of this Act, cease to apply in respect of the areas to which the jurisdiction of the Kannur University extends.(2)Notwithstanding anything contained in sub-section (1), all statutes, Ordinances and Regulations made under the Calicut University Act, 1975 (5 of 1975) and in force on the date of commencement of this Act shall, in so far as they are not inconsistent with the provisions of this Act, continue to be in force in respect of the areas referred to in subsection (1) until they are replaced by the Statutes, Ordinances, and Regulations made under this Act.(3)All property whether movable or immovable, including lands, buildings, equipment, books and library and all rights of whatever kind owned by or vested in or held in trust immediately before the date of commencement of this Act by the University of Calicut in the territorial jurisdiction of the Kannur University as well as all liabilities legally subsisting against the University of Calicut in respect of these properties shall stand transferred to and vest in the Kannur University.(4)Nothing in this section shall be held to prejudice or affect the application of sections 4 and 23 of the Interpretation and General clauses Act, 1125 (VII of 1125).
