(1) An organisation that, immediately before the commencement time:
(a) was a registered organization; and
(b) was a restricted membership organization within the meaning of the National Health Act 1953 ;
is taken, for the purposes of the new Act, on the commencement time to be registered as a restricted access insurer.
(2) Subsection (1) does not prevent the organisation from ceasing to be registered as a restricted access insurer after the commencement time.