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1The repeal by the M1Insurance Companies Amendment Act 1973 of sections 65, 68 and 80 and subsection (1)(f) of section 109 of the M2Companies Act 1967 shall not affect—
(a)any requirement or direction imposed or given under any of those sections before 25th July 1973;
(b)the giving of a direction under the said section 68 in any case in which a notice has been served under subsection (3) of that section before that date; or
(c)the exercise by an officer of any powers under the said section 109 in a case in which he has been authorised before that date to exercise them;
and the said Act of 1967 shall have effect in relation to any such requirement, direction or powers as if the said Act of 1973, the M3Insurance Companies Act 1974 and this Act had not been passed.