(1)  Despite the repeal of the Travel Agents Act 1987 under section 5 , on and after the day on which this Act commences (the repeal date ) and until the date of termination of the compensation scheme, section 53 of that Act as in force immediately before the repeal date continues to apply in relation to any legal proceedings brought by or against the compensation scheme trustees in relation to any matter occurring before the repeal date.

(2)  For the purposes of subsection (1)  –

(a) a term used in the Travel Agents Act 1987 has the same meaning as it had immediately before the repeal date; and

(b) the date of termination of the compensation scheme is the date provided for the termination of the Trust under clause 27.1 of the trust deed under which the compensation scheme is established.

Note

Clause 27.1 of the trust deed provides for the termination of the Trust on 31 December 2015 or as soon after 30 June 2015 as the obligations of the Trust are discharged, whichever occurs first. That clause otherwise provides that the date of termination may be extended, or the Trust terminated sooner, by the Ministerial Council within the meaning of the trust deed.