; and (C) any powers or authorities exercised by reason of said emergency shall cease to be exercised after that date, except that a termination shall not affect— (i) any action taken or proceeding pending not finally concluded or determined on such date; (ii) any action or proceeding based on any act committed prior to such date; or (iii) any rights or duties that matured or penalties that were incurred prior to such date. ; (3) in subsection (c)— (A) in paragraph (1) by inserting or affirm after terminate ; and (B) in paragraph (5) by striking , subsection (b) of this section, ; and (4) by striking subsection (d) and inserting the following: (d) A national emergency declared by the President under section 201, affirmed by a joint resolution under subsection (a)(1), and not otherwise previously terminated, shall terminate on the date that is 2 years after the President transmitted to Congress the proclamation declaring the emergency under section 201(a) or Congress affirms a previous renewal pursuant to this subsection, unless— (1) the President publishes in the Federal Register and transmits to Congress an Executive order renewing the emergency; and (2) there is enacted into law a joint resolution affirming the renewal of the declaration, according to the requirements of subsection (c), before the termination of the emergency or previous renewal of the emergency. . (b) Application to national emergencies previously declared A national emergency declared under section 201 of the National Emergencies Act ( 50 U.S.C. 1621 et seq.) before the date of the enactment of this Act shall be unaffected by the amendments made by this Act except that such emergencies shall terminate on the date that is 2 years after such date of enactment unless the emergency is renewed under section 201(d) of the National Emergencies Act, as amended by this Act.