(1) A remote bookmaker's licence issued by the Revenue Commissioners under section 7B of the Act of 1931 that is in force immediately before the relevant date shall, on and after the relevant date, continue in force -

(a) unless sooner revoked or otherwise ceasing to remain in force, for the period remaining until the next licence final day in accordance with subsection (6)(a) of that section or until 30 June next following the grant of the licence in accordance with subsection (6)(b) of that section, as the case may be, and

(b) subject to that Act.

(2) Where an application has been made for a remote bookmaker's licence under section 7B of the Act of 1931 but not determined before the relevant date the application shall, on or after the relevant date, be determined in accordance with that Act and where a remote bookmaker's licence is issued pursuant to that application that Act shall apply accordingly.