(1) This section applies to an instrument (the affected instrument ), other than regulations, that:
(a) was made under:
(i) an Act; or
(ii) an instrument made under an Act; and
(b) was in force immediately before the commencement time.
(2) If:
(a) immediately before the commencement time, the affected instrument contained a reference to the expression in column 1 of an item of the following table; and
(b) the expression had the same meaning in the affected instrument as it had in this Act as in force immediately before the commencement time; and
(c) the reference to the expression remains in the affected instrument at the commencement time;
then, at and after the commencement time, the affected instrument applies as if the reference to the expression were instead a reference to the expression in column 2 of that item.
Translating references in instruments made under this Act | ||
Item | Column 1 | Column 2 |
1 | prescribed financial market | |
2 | prescribed financial markets |