49.—(1) Any money adviser approved by the DAS Administrator immediately before 1st July 2011 continues to—
(a)be approved as a money adviser for the purposes of these Regulations; and
(b)act as a money adviser in respect of a debtor for any programme in effect at that date in accordance with the provisions of these Regulations (see in particular regulation 12 of these Regulations) unless the adviser resigns or otherwise ceases to act.
(2) Any payments distributor approved by the DAS Administrator immediately before 1st July 2011 continues to—
(a)act as payments distributor in respect of any programme in effect at that date (unless the payments distributor ceases to act); and
(b)be approved as a payments distributor in relation to those programmes, and approval to act in relation to those programmes is regulated in accordance with the provisions of the Regulations revoked by these Regulations.