All corporations formed prior to April 2, 1915, by special act or under the general laws of this State, that are conducting any business subject to regulation by the Public Utility Commission, shall, with respect to acts done after such date, be deemed to be within the provisions of this chapter and the provisions of the general corporation law in like manner as a corporation formed under this chapter. However, a corporation theretofore formed shall not do any act in violation of any restriction contained in its charter. The foregoing provisions of this section shall be subject to the exceptions and qualifications contained in 11 V.S.A. §§ 2 and 3, so far as the same may be applicable to corporations formed under the provisions of this chapter. (Amended 1959, No. 329 (Adj. Sess.), § 39(b), eff. March 1, 1961; 1985, No. 224 (Adj. Sess.), § 5.)