(a) No provision of this Code which repeals or supersedes any other provision of law shall affect the validity of any transaction which has occurred prior to the taking effect of the Code provision, or operate to impair the curative or legalizing effect of any statute heretofore enacted, or have the effect of releasing or extinguishing any penalty, forfeiture, or liability incurred prior to the taking effect of the Code provision. All offenses committed and all penalties or forfeitures incurred under any statute repealed or superseded by a provision of this Code may be prosecuted and punished in the same manner and with the same effect as if the statute relating thereto had not been repealed or superseded. Nothing in this Code may be so construed as to impair any vested right or valid obligation existing when it takes effect. No action or proceeding, civil or criminal, commenced before this Code takes effect may be affected by its provisions, but the proceedings thereunder must conform to the requirements of this Code as far as possible.
(b) All regulations in effect under law that is repealed or superseded by a provision of this Code continue in effect, to the extent they are not inconsistent with the Code, until new regulations are issued.History: 1961, PL 7-14.