Sri Lanka Consolidated Acts

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Fair Trading Commission Act (No. 1 of 1987) - Sect 39

Repeal and savings

39.
(1) The National Prices Commission Law, No. 42 of 1975, is hereby repealed
(2) Notwithstanding the repeal of the aforesaid Law -
(a) all moneys lying to the credit of the Fund of the Commission established under section 25 of the repealed Law, on the date prior to the appointed date shall be transferred to the Fund of the Commission established under this Act;
(b) all inquiries and examinations pending before the National Prices Commission on the date prior to the appointed date, shall be deemed to be inquiries and examinations pending before the Commission under the provisions of this Act, and shall accordingly be continued and concluded before such Commission under the provisions of this Act;
(c) all requests made under sections 17 and 18 and all questions referred for examination under sections 23, 24 and 25 of the repealed Law, to the National Prices Commission, and pending before such Commission on the date prior to the appointed date, shall be deemed to be requests made and questions referred to the Commission under this Act, and accordingly be inquired into and examined by the Commission under the provisions of this Act;
(d) all orders made and reports submitted by the National Prices Commission under the provisions of the repealed Law, shall be deemed to be orders made or reports submitted by the Commission under the provisions of this Act;
(e) all prosecutions instituted by or against the National Prices Commission in any court or tribunal and pending on the date prior to the appointed date shall be deemed to be suits and prosecutions instituted by or against the Commission;
(f) an decrees and orders entered or made by any competent court in favour of or against the National Prices Commission, shall be deemed to have been entered or made in favour of or against the Commission and may be enforced accordingly;
(g) every regulation made by the Minister under the repealed Law, and in force on the appointed date and which is not inconsistent with the provisions of this Act, shall be deemed to be a regulation made under this Act and may accordingly be amended, added to, or rescinded by, regulations made under this Act;
(h) all officers, servants and advisers of the National Prices Commission, shall with effect from the appointed date be deemed to be officers, servants and advisers of the Commission, and shall hold office subject to terms and conditions not less favourable than the terms and conditions attached to their employment under the National Prices Commission;
(i) all debts, obligations, assets and liabilities incurred and all contracts and agreements executed or entered into and all matters and things engaged to be done by, with or for the National Prices Commission shall be deemed to have been incurred, executed, entered into and engaged to be done with or for the Commission:


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