(1) This section applies to a directive (a
"continued directive" ) made by the commission chief executive that was in force under the repealed Act immediately before the commencement.
(2) The continued directive—(a) is taken to be a directive made by the commissioner under this Act; and(b) may be read with the changes necessary to give effect to paragraph (a); and(c) may be amended or repealed by the commissioner under this Act.
(3) Despite subsection (2)(a) and (b), a continued directive taken to be a directive made by the commissioner under this Act applies only in relation to entities and individuals to whom the continued directive applied before the commencement.
(4) To remove any doubt, it is declared that, if a continued directive was in force as an applied ruling within the meaning of the repealed regulation, section 3(1)(b)(iv), the continued directive applies only in relation to entities and individuals to whom the continued directive applied under the repealed regulation before the commencement.