4.—(1) Rules made by the old competent authority or by any committee or sub-committee of the old competent authority under the powers conferred by Part IV of the Act shall be treated and have effect for all purposes as if made under those powers bythe governing body of the new competent authority or, as the case may be, by a committeeor sub-committee of that governing body.
(2) Anything which, when these Regulations come into force, is in the process of being done by the old competent authority in exercise of functions under Part IV of the Act may be carried on and completed by the new competent authority in accordance with the provisions of Part IV of the Act as amended by these Regulations.
(3) The new competent authority shall be substituted for the old competent authority in all legal proceedings to which the old competent authority is, at the time these regulations come into force, a party in its capacity as competent authority for the purposes of Part IV of the Act.
(4) Investments listed on the Official List of The Stock Exchange at the time these Regulations come into force shall be treated for all purposes as if they were listed on the Official List maintained by the new competent authority for the purposes of Part IV ofthe Act.
(5) References to the Official List of The Stock Exchange in any enactment, including an enactment contained in subordinate legislation within the meaning of the Interpretation Act 1978(1), shall have effect as references to the Official List maintained by the new competent authority for the purposes of Part IV of the Act.
Commencement Information
I1Reg. 4 in force at 2.10.1991, see reg. 1(1)