S.L. 403.25 Art. 47Savings.    S.L. 403.13.    S.L. 403.13.      S.L. 403.13.      S.L. 403.13.     S.L. 403.13.

(1) Notwithstanding any other provision of these regulations: COMPENSATION FUND)

(a) the Protection and Compensation Fund

Management Committee appointed by the competent authority in regulation 5 of the Protection and Compensation Fund

Regulations, shall continue in office as if the Protection and Compensation Fund Management Committee were appointed by the competent authority under regulation 5 of these regulations;

(b) the agreement entered into with the Bureau by the

Management Committee under regulation 6(2) of the Protection and Compensation Fund Regulations, shall also continue for all intents and purposes of the law, as if the Management Committee appointed in accordance with these regulations had entered into the said agreement with the Bureau in terms of regulation 6(4);

(c) all assets and liabilities of the Security Fund, transferred to the Protection and Compensation Fund by virtue of the Act, which as from the date of coming into force of the

Protection and Compensation Fund Regulations have been kept separate from other assets and liabilities of the Protection and Compensation Fund, shall continue to remain separate in the Protection and Compensation Fund established under these regulations, and the administration of the assets and liabilities which were kept separate in virtue of Protection and Compensation Fund Regulations shall continue to be governed by regulation 10 of the Insurance Business Security Fund Regulations 1986 until all obligations of the Security Fund under the 1986 Regulations are discharged in full;

(d) once the obligations of the Security Fund which were kept separate under the Protection and Compensation

Fund established under the Protection and Compensation Fund

Regulations and these regulations, have been discharged in full, any remaining assets in the Security Fund established under the 1986 Regulations shall be aggregated to Fund D and continue to be used under these regulations exclusively for the same purpose which they were used under the Insurance Business Security Fund Regulations 1986;

(e) the assets of the Protection and Compensation

Fund established under the Protection and Compensation Fund

Regulations shall be aggregated to the assets of, and shall form part of Fund A and, or Fund D established under these regulations, as may be determined by the Management Committee.

(2) For the purpose of this regulation, ''Security Fund'' means the fund established by article 26 of the Insurance Business Act, 1981, repealed by the Act.