Transitional provisions

(1) The legal provisions existing in the field of banking, and the orders issued on the basis of the previous legal provisions, remain in force, insofar as provisions of this Act do not conflict with them. Legal provisions that impose more extensive requirements on the business activity of particular types of credit institutions than this Act remain unaffected.
(2) Tasks and powers assigned to the banking supervisory authority in federal legal provisions pass to the Federal Institute.
(3) The Länder's competences for recognition as a relocated financial institution under the Thirty-Fifth Implementing Regulation to the Currency Conversion Act, for confirming the conversion account and the old-bank account, and for the tasks and powers under the Securities Adjustment Acts and the Adjustment Act for German Foreign Bonds, remain unaffected.