(1) Subject to paragraph (2) below, the following provisions of the principal regulations are hereby revoked.
(a) Regulation 7(2);
(b) in Regulation 7(3), the words “or (2)” ;
(c) in Schedule 3, Form Nos 469(Scot), 470(Scot), 478(Scot), 481(Scot), 482(Scot), 495(2)(a), 495(3)a, 495(3)b, and 497;
(d) in Part I of Schedule 4, the words “482” ; and
(e) in Part II of Schedule 4, the words “495(3)a and 495(3)b” .
(2) Notwithstanding paragraph (1) above, the provisions of the principal regulations specified in that paragraph shall continue to apply in relation to any receiver appointed under section 467 of the Act before 29th December 1986 or to any receiver or manager appointed before that date to whom Part XIX of the Act applies.