(1) Where on the commencement of this Act a person is licensed to import building materials and other items under the repealed Hotel Aids Act, 1959 the Minister may in his or her discretion grant to that person, a permit under Part 4 subject to such terms and conditions as may be prescribed, and thereupon the licence under the repealed Hotel Aids Act, 1959 is deemed to have expired.
(2) Where no permit is granted under subsection (1), the licence granted under the repealed Hotel Aids Act, 1959 shall continue to be valid and the privileges under it may continue to be exercised by the licensee subject and in accordance with the provisions of the repealed Hotel Aids Act, 1959 despite the repeal of the Act by this Act.