(1) A licence issued under the repealed Act that is valid immediately before the commencement continues in effect on the commencement as a licence under this Act.
(2) A sports bookmaker licence granted under section 89A of the repealed Act that is valid immediately before the commencement is:
(a) not subject to the powers and functions of the Commission after the commencement; and
(b) continues to be subject to the powers and functions of the Director of Totalisator Licensing and Regulation appointed under section 5 of the Totalisator Licensing and Regulation Act 2000 .
(3) A condition on a licence issued under the repealed Act that is valid immediately before the commencement continues in effect after the commencement as a condition under this Act, unless inconsistent with a provision of this Act.
(4) The Commission may determine whether a condition referred to in subsection (3) is inconsistent with a provision of this Act.