If an individual has, as of December 31, 1998, an asset for which a special repair reserves account has been established, the provisions of Article 55 of the former Income Tax Act (including as applied pursuant to Article 165 of the former Income Tax Act) remain in force with respect to the amount in the special repair reserves account for that asset (limited to an amount intended to cover the costs required for the special repairs prescribed in paragraph (1) of that Article that are first carried out after that date (referred to as "special repairs" in the following paragraph)).