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(1) The Banking Law, 1989 (P.N.D.C.L. 225) is hereby repealed.

(2) Notwithstanding subsection (1), regulations, orders, directions, notifications, exemptions, approvals, decisions and other executive or administrative, acts made, given or done under the repealed Law shall upon the coming into force of this Act continue in force until amended or repealed in accordance with this Act.