(1) Paragraph (2) applies to persons who immediately before commencement were on the register of approved sponsors maintained by the Authority for the purposes of old listing rules.
(2) A person to whom this paragraph applies is to be treated, on commencement, as approved by the competent authority for the purposes of listing rules made pursuant to section 88.
(3) Paragraph (4) applies to an application made pursuant to old listing rules to be included in the register of approved sponsors maintained by the Authority for the purposes of old listing rules.
(4) Where an application to which this paragraph applies ("the original application") was made before commencement, in accordance with the procedure applicable to such an application, but was not finally determined before commencement, it is to be treated after commencement as if it were an application made for the approval, of the person in respect of whom it was made, as a sponsor for the purposes of listing rules made pursuant to se
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