(1) In so far as any order, regulation, rule, agreement, application, decision or reference made, approval, consent or direction given, requirement imposed, certificate or other instrument issued, register kept, resolution passed, notice served or other thing done under an enactment repealed by this Act could have been made, given, imposed, issued, kept, passed, served or done under a corresponding provision of this Act, it shall not be invalidated by the repeal effected by this Act but, except in so far as this Act otherwise provides, shall have effect as if made, given, imposed, issued, kept, passed, served or done under that corresponding provision.

(2) Where any document refers to an enactment repealed by this Act and provision is made by this Act corresponding to that enactment, then, unless the context otherwise requires, that reference shall be construed as or, as the case may be, as including a reference to the corresponding provision of this Act.

(3) Where an act or omission is an offence under an enactment repealed by this Act and that enactment provides a penalty for the continuation of the offence, then, if provision is made by this Act corresponding to that enactment, the continuation of the act or omission after the commencement of this section shall be treated for the purposes of the corresponding provision of this Act as a continuation of an offence under that provision.

(4) Any reference in this section to an enactment repealed by this Act includes a reference to an enactment contained in the Industrial and Provident Societies Acts, 1893 to 1978, which, though not so repealed, ceases by virtue of this Act to apply to a credit union.