(1) If a person made a
claim against the Guarantee Fund as it existed before the commencement day in
relation to an act before the commencement day, the claim is to be dealt with
under the LCT Act as in force immediately before the commencement day and the
law governing the liability of the Guarantee Fund, and the amount of the
reimbursement, is the law as in force immediately before the commencement day.
(2) If a person did
not make a claim against the Guarantee Fund as it existed before the
commencement day in relation to an act before the commencement day, the claim
may be made under Part 12 Division 3 but the liability of the
Guarantee Fund, and the amount of the reimbursement, is governed by the LCT
Act as in force immediately before the commencement day.