(1) This section applies in relation to an application by an eligible applicant for the grant of a licence in accordance with section 102 of the Act if:
(a) the application was made before the commencement day; and
(b) immediately before that day, a decision on the application has not been made.
(2) Despite the repeal of the old regulations, Part 4 of, and Schedules 1, 2 and 3 to, those regulations continue to apply in relation to the application as if the repeal had not happened.