(1) The power under section 86(5) to make saving provision in connection with the revocation of any legislation referred to in Schedule 1 includes power to restate that legislation (as it has effect immediately before its revocation) -
(a) by amending primary legislation or subordinate legislation, or
(b) by making new subordinate legislation.
(2) Regulations made by virtue of subsection (1) may make such modifications of the legislation being restated as the Treasury consider necessary or desirable for or in connection with -
(a) the purpose of making the law clearer or more accessible, or
(b) any of the purposes mentioned in section 3(2).
(3) Legislation restated by virtue of subsection (1) is not assimilated law.
(4) Where legislation is restated by virtue of subsection (1), the Treasury may by regulations make such further modifications of that legislation as they consider necessary or desirable for or in connection with a purpose referred to in subsection (2)(a) or (b).
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