PART VII.  TRANSITION



 



[§485A-701]  Application of act to existing
proceeding and existing rights and duties.  (a)  The predecessor act
exclusively governs all actions or proceedings that are pending on July 1,
2008, or may be instituted on the basis of conduct occurring before July 1,
2008; provided that a civil action may not be maintained to enforce any
liability under the predecessor act unless instituted within any period of
limitation that applied when the cause of action accrued or within five years
after July 1, 2008, whichever is earlier.



(b)  All effective registrations under the
predecessor act, all administrative orders relating to the registrations,
rules, statements of policy, interpretative opinions, declaratory rulings,
no-action determinations, and conditions imposed on the registrations under the
predecessor act shall remain in effect for the period that they would have
remained in effect if this chapter had not been enacted.  The registration
orders, rules, statements, opinions, rulings, determinations, and conditions,
shall be deemed to have been filed, issued, or imposed under this chapter, but
shall be exclusively governed by the predecessor act. [L 2006, c 229, pt of §1]



 



Revision Note



 



  "July 1, 2008" substituted for "the effective
date of this chapter".