40. (1) Anything commenced and not completed before the appointed day by or under the authority of the MCIB may, in so far as it relates to a function conferred on the MAIU by this Act, be carried on or completed on or after that day by the MAIU.
(2) A reference to the MCIB in any enactment (other than this Act) or in the constitution of any company and relating to a function conferred on the MAIU by this Act shall, on and after the appointed day, be construed as a reference to the MAIU.
