(1) A loan raised by the Government under the repealed Act and in respect to which a liability is subsisting immediately before the commencement of this Act is deemed to be a loan raised under this Act, notwithstanding that the amount of the loan or an obligation by the Government of Saint Lucia in respect of the loan exceeds a limitation imposed by this Act.
(2) A bill, bond and other securities issued under the repealed Act and subsisting immediately before the commencement of this Act, continues in effect and is binding in the same manner and to the same extent as if issued under this Act.
(3) A statutory body which has a financial year that is not in accordance with the financial year in this Act, shall within 3 years after the commencement of this Act, align its financial year with the financial year in this Act.
(4) The Accountant General shall submit statements of accounts for audit according to law as at the closing date of that financial year and not under this Act for the accounts of a financial year ending prior to the commencement of this Act for which financial statements have not been submitted for audit.