Long Term Insurance Act, 1998 (Act No. 52 of 1998)Part IX : Transitional and general provisionsGeneral provisions74. Savings |
| 1) | Notwithstanding the partial repeal of the repealed Act by section 73 , the provisions of— |
| a) | section 25, read with section 19A of that Act, shall continue to apply in relation to a long-term insurer that has before the commencement of this Act notified the Authority, as defined in the repealed Act, that it intends to apply to the Court for the confirmation of a conversion contemplated in the said section 25, and if such application is made to the Court before 31 December 1999, that application may, if the long-term insurer so elects, be made, continued with and dealt with in accordance with the said provisions as if they had not been repealed by section 73 ; |
| b) | section 38, read with sections 38B, 52, 58 and 59 of that Act, shall continue to apply in relation to a policy contemplated in those sections and entered into during the period 1 April 1944 to 20 June 1978; |
| c) | section 38A, read with sections 38B, 52, 58, 59 and 59A of that Act, shall continue to apply in relation to any policy contemplated in those sections and entered into during the period 21 June 1978 to the date immediately before the commencement of this Act; |
| d) | section 62 of that Act shall continue to apply in relation to any industrial and funeral policy contemplated in that section; |
| e) | the Second Schedule to that Act shall continue to apply to industrial and funeral policies. |
| 2) | Anything done before the commencement of this Act under, in terms of or by virtue of a provision of the repealed Act by or in relation to persons registered in terms of that Act to carry on long-term insurance business as defined in that Act shall, in so far as it was done lawfully and unless it is clearly inappropriate, be deemed to have been done under, in terms of or by virtue of the corresponding provision of this Act. |