(1) A regulatory action taken by the Bank under a provision amended by these Regulations on or before the commencement of the amendment continues to have effect according to its terms and the Bank may enforce it.

(2) The amendment of any provision by these Regulations does not preclude the taking of any legal proceedings, or the undertaking of any investigation, or disciplinary or enforcement action by the Bank or any other person, in respect of any contravention of a provision (including anything amended by these Regulations) or any misconduct which may have been committed before the commencement of the amendment.

(3) In paragraph (1) "regulatory action" includes any code, direction, order, requirement, sanction, condition, appointment or request (however described) of a regulatory nature made, given or imposed by the Bank.