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(1) The Financial Administration Decree, 1979 (S.M.C.D. 221) is hereby repealed.

(2) Regulations, orders, rules and instructions relating to the administration of public finance, government stores and public corporations other than those set up for commercial purposes in operation at the time of the commencement of this Act and not inconsistent with this Act shall continue in operation until the regulations, orders, rules or instructions are amended, revoked or replaced by regulations or orders or other instrument under this Act.

(3) Any enactment in force at the commencement of this Act shall have effect, with such modification as may be necessary, to give effect to the provisions of this Act.

(4) The Minister may issue written instructions with respect to transitional measures related to the implementation of this Act.