(3)[ Notwithstanding anything contained in sub-section (1) of this section or elsewhere in this Act, till such time as the Board of Councilors makes regulations under this Act, the regulations made under the Bengal Municipal Act, 1932. and in force immediately before the commencement of this Act, shall, so far as they are not inconsistent with the provisions of this Act or the rules made thereunder, be deemed to be the regulations made under this Act, and the provisions of sub-section (2) of this section or section 420 shall not apply to any regulations deemed under this sub-section to be the regulations made under this Act:Provided that the provisions of section 421 shall apply to any regulations deemed under this sub-section to be the regulations made under this Act.Explanation. - "Regulation" shall include by-law.] [Inserted by the West Bengal Act 30 of 1994, w.e.f. 13.7.1994.]