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INSTRUMENTS ACT 1958 - SECT 2 Repeal and savings

INSTRUMENTS ACT 1958 - SECT 2

Repeal and savings

    (1)     The Acts mentioned in the First Schedule to the extent thereby expressed to be repealed are hereby repealed accordingly.

    (2)     Except as in this Act expressly or by necessary implication provided—

        (a)     all persons things and circumstances appointed or created by or under any of the repealed Acts or existing or continuing under any of such Acts immediately before the commencement of this Act shall under and subject to this Act continue to have the same status operation and effect as they respectively would have had if such Acts had not been so repealed;

        (b)     in particular and without affecting the generality of the foregoing paragraph, such repeal shall not disturb the continuity of status operation or effect of any mortgage lien pledge bill of exchange or sale bond guarantee security contract agreement policy promise representation assurance assignment transfer sale power of attorney writ judgment proceeding claim notice registration filing caveat or instrument condition fee liability or right made effected issued granted given presented passed fixed accrued incurred or acquired or existing or continuing by or under any of such Acts before the commencement of this Act; nor shall such repeal make applicable to any bill of sale assignment transfer lien mortgage deed power of attorney or contract agreement or token of sale and purchase any provision of this Act to which the corresponding previous enactment was inapplicable immediately before the commencement of this Act.

    (3)     The following Acts and enactment namely—

Instruments (Insurance Contracts) Act 1936 ; Part III of the Companies Act 1938 ; Industrial Life Assurance Act 1938 ; Instruments (Insurance Contracts) Act 1939 ; Ordinary Life Assurance Act 1940 ; Industrial Life Assurance Act 1940 ; Instruments (Insurance Contracts) Act 1943

shall, notwithstanding the repeal thereof by this Act or otherwise, nevertheless continue in operation so that the rights powers and privileges under any such Act or enactment of the owner or persons entitled to the benefit of any policy issued thereunder prior to the commencement of the Commonwealth Act known as the Life Insurance Act 1945 shall not be prejudicially affected.



Part I—Summary proceedings on bills of exchange

No. 3706 s. 3.