Mutual Banks Act, 1993 (Act No. 124 of 1993)Chapter IX : General Provisions95. Repeal of laws, and savings |
| (1) | Subject to subsections (2), (3) and (4), the laws specified in the Schedule are hereby repealed to the extent set out in the third column of the Schedule. |
| (2) | Notwithstanding subsection (1), the provisions of Chapter IVA of the Mutual Building Societies Act, 1965 (Act No. 24 of 1965), as those provisions existed immediately prior to the repeal thereof by subsection (1), shall be applicable to the issue of permanent interest-bearing shares by an institution reregistered as a mutual bank in terms of section 30. |
| (3) | For the purposes of subsection (2), any reference in any of the provisions referred to in subsection (2) to a permanent society shall be deemed to be a reference to a mutual bank referred to in subsection (2). |
| (4) | Any regulation made, direction, order or directive issued, request made or requirement laid down, and any other thing done, under any of any law repealed by subsection (1), and which could have been made, issued, laid down or done under a provision of this Act, shall be deemed to have been made, issued laid down or done under the last-mentioned provision. |