(1) Notwithstanding any repeal of section 18 of, or Schedule 3 to, the Financial Services Act (requirements for recognition of professional bodies) [Amended by the Companies Act 1989 (c. 40) section 204 and Schedule 23.], the following provisions of that Schedule continue to have effect in relation to any body which was, immediately before commencement, a recognised professional body -

(a) paragraphs 3 and 3A, so far as they relate to the carrying on of investment business before commencement;

(b) sub-paragraphs (2) and (4) to (6) of paragraph 4;

(c) sub-paragraph (3) of paragraph 4, so far as it relates to provision for disciplining members of the body;

(d) paragraph 5, so far as it relates to investment business carried on before commencement;