Repeal and saving preserves pre-existing tax liabilities and ongoing proceedings despite repeal of State tax Acts. The Act repeals specified State tax laws but preserves pre-existing rights, obligations and liabilities, and maintains that taxes, surcharges, penalties, fines, interest, forfeitures and punishments remain collectible; investigations, verifications, assessments, adjudications and all proceedings, including appeals and reviews, may be instituted or continued and remedies and recovery of arrears pursued as if repeal or amendment had not occurred, while rescinded investment-related tax notifications cease to operate as privileges from the appointed day.