(5) Where, by a notification issued by the Central Government, the Commission is authorised to perform the functions specified in clause (d) of sub- section (2) in respect of any route or area common to two or more States, then, on the issue of such a notification,-
the Regional Transport Authorities or State Transport Authorities interested shall cease to exercise and discharge any powers and functions in respect of such route or area;
the powers and functions of the Regional Transport Authorities and State Transport Authorities interested in respect of such route or area shall be exercised and dis- charged by the Commission; and any permit granted or countersigned by the Commission for any such route or area shall be valid for that route or area, notwithstanding anything contained in this Chapter;
subject to any rules that may be made under section 63C, the provisions of this Chapter relating to the grant, revocation and suspension of permits and of countersignatures of permits by a State Transport Authority or Regional Transport Authority shall,, as far as may be, apply to the grant, revocation and suspension of permits and of countersignatures of permits by the Commission;
any permit granted in respect of any such route or area before the issue of the notification shall, notwithstanding such issue, continue to be effective for the period specified in the permit and shall be deemed to have been granted by the Commission under this section as if this
' section were in force on the day on which the permit was granted.