16.—(1) The fund for the old provisions immediately before the commencement date shall continue to be the fund for those provisions and shall be the fund for the 2002 Regulations.
(2) Without prejudice to paragraph (1), any liabilities under the old provisions, as they continue to apply by virtue of these Regulations, shall continue to be payable by the Committee from the fund as respects those liabilities immediately before that date.
(3) Where immediately before that date any body is or may become liable to make payments to the Committee or to the fund in respect of any liability arising under the old provisions in respect of any person, liabilities in respect of whom continue to arise on or after that date under those provisions, that body shall continue to be the body which is or may become so liable.