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(1) The following enactments are hereby repealed:-

(a) Paragraphs 25, 26, 27, 28, 29 and 30, the word "loan" appearing in paragraph 13 and the proviso to paragraph 46 (1) of the Financial Administration Decree, 1967 (N.L.C.D. 165),

(b) the External Loans Decree, 1968 (N.L.C.D. 246), and

(c) the provisions relating to the External Loans Decree, 1968 in the Second Schedule to the Constitution (Consequential and Transitional Provisions) Decree, 1969 (N.L.C.D. 406).

(2) Notwithstanding the repeal of the enactments referred to in subsection (1) of this section any loans or other transactions or statutory instruments existing thereunder immediately before the commencement of this Act shall continue in effect under the corresponding provisions of this Act.