50.—(1) A decision made under section 87JB of FSMA 2000 (power to refuse applications for a period) before the main commencement day which relates to a period that ends on or after that day is to have effect for the remainder of that period as if made under regulation 29.
(2) In regulation 29, the reference to contravention of a provision within regulation 29(2) includes a reference to a contravention of a provision within section 87JB(2), at a time or in circumstances where such a provision was applicable, except where a decision under section 87JB was made before the main commencement day by reference to that contravention.