(1) The repeal of the Cooperatives Act 2002
does not affect an existing right, privilege or liability acquired, accrued or incurred under that Act.
Note A reference to an Act includes a reference to the statutory instruments made or in force under the Act, including any regulation (see Legislation Act
, s 104).
(2) An investigation, proceeding or remedy in relation to an existing right, privilege or liability under the Cooperatives Act 2002
may be started, exercised, continued or completed, and the right, privilege or liability may be enforced and any penalty imposed, as if the repeal had not happened.
(3) In this section:
"liability" includes liability to penalty for an offence against the law.
"penalty "includes punishment and forfeiture.
"privilege "includes immunity.
"right "includes capacity, interest, status and title.