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91A. Saving and Transitional

Past version: effective from 23/12/2012 - 20/08/2014
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(1) The saving and transitional provisions in this Article are applicable in circumstances where the DFSA has issued a notice under Article 90 or 91 of the previous law. For the purposes of this Article the "previous law" means the version of the Regulatory Law 2004 in force immediately prior to the DIFC Laws Amendment (No.2) Law of 2012 coming into force.
(2) Where such a notice has been issued by the DFSA, Articles 90 and 91 (as amended) under this law shall not affect:
(a) any right, privilege, remedy, obligation or liability accrued to or incurred by any person; or
(b) any investigation or legal or administrative proceeding commenced or to be commenced in respect of any right, remedy, privilege, obligation or liability,
in relation to the relevant notice, and any such investigation or legal or administrative proceeding may be instituted, continued or enforced, including any penalty, fine or forfeiture, under this law subject to Article 91A(3).
(3) Where such a notice has been issued by the DFSA, Articles 90 and 91 as prescribed in the previous law are deemed to continue in force until such time as necessary for the purposes of any investigation or proceeding specified in this Article to be concluded.
(4) The DFSA may, by Rules, prescribe any transitional or saving provisions as appear to the DFSA necessary so as to give effect to, or to facilitate, the transition from the previous law to this Law.