Section 2 of this Act shall have effect as regards rights of action accruing both before and after the coming into force of this Act.

Section 4 of this Act shall not have effect as regards any proceedings commenced before the coming into force of this Act.

The amendment to section 7(2) of the principal Act specified in paragraph 2 of Schedule 1 to this Act shall have effect as regards any obligation which has not been extinguished before the coming into force of this Act.