Section 98: Repeal and Savings.

(1) Nothing in this Act shall be construed so as to prohibit the continuation of an examination by the engagement hereby repealed, begun before the commencement of this Act and section 31 (1) of the National Insurance Commission Act 1997 shall apply accordingly.
(2) Register kept under the enactment hereby repealed shall be deemed part of the register to be kept under the corresponding provisions of this Act and, accordingly, any person registered or licensed under the repealed enactment shall be deemed to be registered or licensed under this Act.
(3) Funds and accounts, constituted under this Act shall be deemed to be in continuation of the corresponding funds and accounts under the enactment hereby repealed.
(4) Where an offence, being an offence for the continuance of which a penalty was provided, has been committed under the enactment hereby repealed, proceedings may be taken under this Act in respect of the continuance of the offence after the commencement of this Act, in the same manner as if the offence has been committed under the corresponding provisions of this Act.
(5) An insurance company, broker or loss adjuster registered or licensed under the Insurance Act No.2 of 1997 and whose registration or license has not been cancelled or withdrawn at the date of commencement of this Act shall be deemed to have been registered or licensed under this Act subject to complying with any additional requirements stipulated by this Act.