74.1(1)The provisions of the Securities Transfer Act, including amendments made to this Act by section 109 of the Securities Transfer Act, do not affect an action or proceeding commenced before the commencement of this section.
74.1(2)No further action is required to continue perfection of a security interest in a security if
(a)
the security interest in the security was a perfected security interest immediately before the commencement of this section, and
(b)
the action by which the security interest was perfected would suffice to perfect the security interest under this Act.
74.1(3)A security interest in a security remains perfected for a period of 4 months after the commencement of this section and continues to be perfected after that 4-month period where appropriate action to perfect the security interest under this Act is taken within that period, if
(a)
the security interest in the security was a perfected security interest immediately before the commencement of this section, but
(b)
the action by which the security interest was perfected would not suffice to perfect the security interest under this Act.
74.1(4)A financing statement or financing change statement may be registered within the 4-month period referred to in subsection (3) to continue that perfection, or after that 4-month period to perfect the security interest, if
(a)
the security interest was a perfected security interest immediately before the commencement of this section, and
(b)
the security interest can be perfected by registration under this Act.