(1) Upon the commencement date—
(a) all corporate instruments of a former-Act company; and
(b) all cancellations, suspensions, proceedings, acts, registrations and things,
lawfully done under any provision of the former Act are presumed to have been lawfully done under this Act, and continue in effect under this Act as though they had been lawfully done under this Act.
(2) For the purposes of this section, “lawfully done” means to have been lawfully granted, issued, imposed, taken, done, commenced, filed, or passed, as the circumstances require.