2.—(1) The Insolvency Practitioners Regulations 1986(1) (“the principal Regulations”), the Insolvency Practitioners (Amendment) Regulations 1986(2), the Insolvency Practitioners (Amendment) Regulations 1989(3) and the Insolvency Practitioners (Amendment) (No. 2) Regulations 1989(4) are hereby revoked.

(2) Notwithstanding paragraph (1), the said Regulations shall continue to apply and have effect in relation to:–

(a)any application made before the commencement date in respect of which:–

(i)no authorisation has been granted; or

(ii)no written notice under section 397(2) of the Act has been given by the competent authority; or

(iii)no written notice under section 398 of the Act has been given by the authority,

before the commencement date; or

(b)any withdrawal of an authorisation pursuant to a notice under section 394(2) of the Act given before the commencement date.

(3) Notwithstanding paragraph (1), the principal Regulations, other than Part II thereof, and the Insolvency Practitioners (Amendment) Regulations 1986 shall continue to apply and have effect in relation to any person appointed to act as an insolvency practitioner in relation to any person before the commencement date in so far as he continues so to act in relation to that person on or after the commencement date pursuant to that appointment or to a subsequent appointment to act as an insolvency practitioner within the scope of regulation 11 of the principal Regulations made on or after the commencement date.