; 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.