(1) The Ghana Investment Promotion Centre Act, 1994 (Act 478) is repealed.

(2) Despite the repeal under subsection (1), an enterprise registered under that Act shall subject to subsection (5) continue in force as if registered under this Act.

(3) An application pending before the Ghana Investment Promotion Centre established under the Ghana Investment Promotion Centre Act 1994 (Act 478) is deemed to be pending before the Centre established in section 2.

(4) Where registration is continued in force by virtue of subsection (2), the registration shall in addition to other benefits that are applicable to the enterprise under this Act continue to enjoy the benefits applicable to that registration before the commencement of this Act.

(5) Despite the provision of section 28 of this Act, a joint venture or an enterprise which has been registered under the Ghana Investment Promotion Centre Act, 1994 (Act 478), before the commencement of this Act shall be considered to have been registered under 'this Act,

(6) An immigrant quota in existence immediately before the commencement of this Act in respect of an enterprise to which this Act applies shall continue in force until the immigrant quota expires or is renewed under this Act.

(7) A technology transfer agreement registered with the Ghana Investment Promotion Centre before the commencement of this Act is deemed to be registered with the Centre established by this Act.