8. Savings

All contracts, agreements and other instruments of the insurance Board of Sri Lanka subsisting on the day immediately prior to the date of commencement of this Act, shall be deemed with effect from the date of commencement of this Act to be contracts, agreements or other instruments entered into by the Insurance Regulatory Commission of Sri

All suits, actions and other legal proceedings instituted by or against the Insurance Board of Sri Lanka and pending on the day, immediately prior to the date of commencement of this Act, shall be deemed with effect from the date of commencement of this Act to be suits, actions and other legal proceedings instituted by or against the Insurance

All the rights, liabilities and obligations of the

All movable and immovable property vested in the

Every decree, order or judgment entered in favour of or against the Insurance Board of Sri Lanka by any court in any action or proceeding, shall with effect from the date of commencement of this Act, be deemed to be a decree, order or judgment entered in favour of or against the Insurance