Repeal and saving clause preserves prior regulatory actions and pending matters as effective under corresponding provisions. Regulation 47 repeals the earlier Substantial Acquisition and Takeover regulations and provides a saving and deeming mechanism whereby actions taken (including approvals, exemptions, fees, adjudications, enquiries, investigations, and show cause notices), applications pending before the Board, and appeals pending before the Central Government under the repealed regulations are deemed to have been done, made, or preferred under the corresponding provisions of the current regulations.