88. (1) On the coming into force of this Ordinance, the Local Government Ordinance, 1976 (XC of 1976), hereafter referred to as the said Ordinance, shall, in its application to the Union Parishads, stand repealed. (2) Upon the repeal of the said Ordinance,-(a) notwithstanding anything contained in this Ordinance, until the Union Parishads are constituted under this Ordinance, the Union Parishads, functioning immediately before such repeal, shall discharge the functions of, and be deemed to be, the Union Parishads constituted under this Ordinance;(b) all rules, regulations or orders made, notifications or notices issued, or licences or permissions granted under the said Ordinance and in force immediately before such repeal, shall, in so far as they are not inconsistent with the provisions of this Ordinance, continue in force and be deemed to have been respectively made, issued or granted under the provisions of this Ordinance until they are repealed or amended under the said provisions;(c) all assets, rights, powers, authorities and privileges, and all property, movable and immovable, cash and bank balances, funds, investments and all other rights and interests in, or arising out of, such property of the Union Parishads, functioning immediately before such repeal, shall stand transferred to and vest in the successor Union Parishads constituted under this Ordinance;(d) all debts, obligations and liabilities incurred, all contracts entered into and all matters and things engaged to be done by, with or for the Union Parishads, functioning immediately before such repeal, shall be deemed to have been incurred, entered into or engaged to be done by, with or for the successor Union Parishads constituted under this Ordinance;(e) all budget estimates, assessments, valuation or plans made by the Union Parishads, functioning immediately before such repeal shall, in so far as they are not inconsistent with the provisions of this Ordinance, continue in force and be deemed to have been made under the provisions of this Ordinance by the successor Union Parishads constituted under this Ordinance until they are amended or superseded under the said provisions;(f) all taxes, rates, fees and sums of money due to the Union Parishads, functioning immediately before such repeal, shall be deemed to be due to the successor Union Parishads constituted under this Ordinance;(g) all taxes, rates, fees and other charges levied by the Union Parishads, functioning immediately before such repeal, shall, until they are varied by the successor Union Parishads constituted under this Ordinance continue to be levied at the same rate at which they were levied by them immediately before such repeal;(h) all officers and employees of the Union Parishads, functioning immediately before such repeal, shall stand transferred to and become officers or employees of the successor Union Parishads constituted under this Ordinance and shall hold office or service in the successor Union Parishads on the same terms and conditions as were enjoyed by them immediately before such repeal and shall continue to do so until such terms and conditions are duly altered;(i) all suits, prosecutions and other legal proceedings instituted by or against the Union Parishads, functioning immediately before such repeal, shall be deemed to be suits, prosecutions and proceedings by or against the successor Union Parishads constituted under this Ordinance, and shall be proceeded or otherwise dealt with accordingly.