Transitional provisions

(1) Administrative proceedings pending before the Federal Banking Supervisory Office, the Federal Insurance Supervisory Office and the Federal Securities Supervisory Office are continued by BaFin from 1 May 2002. In pending court proceedings in which the Federal Republic of Germany, represented by the President of the respective Federal Supervisory Office, is a party or participant, BaFin becomes the party or participant on this Act's entry into force.
(2) The Federal Administrative Court remains competent for court proceedings pending under section 10a of the Act on the Establishment of a Federal Insurance Supervisory Office. The running of time limits is not interrupted.
(3) (repealed)
(4) (repealed)
(5) The provisions of the Federal Remuneration Act, in the version in force before the entry into force of Article 14 of the Act of 22 April 2002 on Integrated Financial Services Supervision (Federal Law Gazette I, p. 1310), continue to apply, until another office is conferred, to the Presidents and Vice-Presidents of the Federal Supervisory Offices for Insurance, Banking and Securities Trading in office on 30 April 2002.
(6) Costs of the Federal Banking Supervisory Office, the Federal Insurance Supervisory Office and the Federal Securities Supervisory Office to be reimbursed by supervised undertakings for the year 2002 up to 30 April 2002, and for previous years, insofar as not yet reimbursed, must be paid to BaFin. BaFin remits those amounts to the Federation.
(7) The members of the Executive Board in office on 9 December 2011 remain in office. The provisions of section 9, in the version in force before 9 December 2011, continue to apply to them until an appointment to a public-law official relationship. The provisions of Annex I of the Federal Remuneration Act, in the version in force before 9 December 2011, also continue to apply to them until another office is conferred.