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12(1)In section 64 of the Rating and Valuation Act 1925 subsection (1) (so far as it relates to exemptions from or privileges in respect of rating) and subsection (2) shall cease to apply to any exemption or privilege conferred by a local Act or order passed or made before 22nd December 1925 unless the exemption or privilege either—
(a)is continued in operation by a scheme in force at the date of commencement of this Act under the said subsection (2) ; or
(b)is at the said date of commencement enjoyed in practice.
(2)The said subsection (2) and section 301(2) of the [1959 c. 25.] Highways Act 1959, so far as they apply paragraph 7 of Part III of Schedule 2 to the said Act of 1925, shall continue to have effect notwithstanding the repeal of the said Part III by the [1961 c. 45.] Rating and Valuation Act 1961.
(3)In the proviso to the said paragraph 7, for the words " any order so made shall, unless the objection is withdrawn " there shall be substituted the words " unless the objection is withdrawn, the order shall ".
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