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1. Title and Repeal

(1) This Markets Law 2012 repeals and replaces the Markets Law 2004 ("the Previous Law") and may be cited as the "Markets Law 2012" ("this Law").
(2) Except where otherwise provided in this Law or the Rules, anything done or omitted to be done pursuant to or for the purposes of the Previous Law is deemed to be done or omitted to be done pursuant to or for the purposes of this Law.
(3) Without limiting the generality of Article 1(2), and subject only to Article 1(4), such repeal 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,
under the Previous Law and any such investigation or legal or administrative proceeding may be instituted, continued or enforced, including any penalty, fine or forfeiture, under this Law.
(4) Where there is no equivalent provision in this Law to a provision in the Previous Law, the relevant provision in the Previous Law is deemed to survive the repeal under this Article until such time as necessary for the purposes of any investigation or proceeding specified in Article 1(3)(b).
(5) 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.