14ADirections under relevant previous laws

#### 14A Directions under relevant previous laws (1) This section applies where, immediately before the commencement of this section: (a) a direction was in force under: (i) subsection 290(4) or 291(1), (2) or (3) of the relevant previous law of this jurisdiction relating to the formation of companies; or (ii) subsection 16(1), (2) or (3) of the relevant previous law of this jurisdiction relating to the securities industry; or (iii) subsection 22(1), (2) or (3) of the relevant previous law of this jurisdiction relating to the futures industry; and (b) no investigation pursuant to the direction had yet begun, or such an investigation had begun but had not yet been completed or terminated. (2) The direction has effect: (a) with such modifications (if any) as are specified, in relation to the direction, in an application order; and (b) with such other modifications (if any) as the circumstances require; as if it were a direction to the Commission under subsection 14(1). (3) If, immediately before that commencement, an investigation was being carried out pursuant to the direction: (a) the Commission must comply with the direction, as it has effect because of subsection (2), by continuing the investigation in accordance with the direction as it so has effect; and (b) the investigation, as continued by the Commission, is taken to be an investigation under section 14.