Every proceeding heretofore commenced under the laws in effect before May 29, 1991, except a liquidation proceeding in which a liquidation order has been entered by the Superior Court, shall be deemed to have commenced under this chapter for the purpose of conducting the proceeding henceforth, except that in the discretion of the Commissioner the proceeding may be continued, in whole or in part, as it would have been continued had this chapter not been enacted. (Added 1991, No. 45, § 2, eff. May 29, 1991.)