3.—(1) Anything having any continuing effect done by or in relation to the MMC before the commencement date, including (without prejudice to the generality of the foregoing) anything done by or in relation to the MMC in respect of a reference made to the MMC, is deemed from the commencement date to have been done by or in relation to the Commission and is not to be invalidated by the repeal of the provision under which or by relation to which it was done.
(2) Any proceedings by, against or in respect of the MMC which are in existence immediately prior to the commencement date are from that date to continue as proceedings by, against or in respect of the Commission.