Usury Act, 1968 (Act No. 73 of 1968)20. Repeal of existing laws |
| (1) | The Usury Act, 1926 (Act No. 37 of 1926), the Usury Amendment Act, 1933 (Act No. 1 of 1933), and section 23 of the Banks Act, 1965 (Act No. 23 of 1965), are hereby repealed. |
| (2) | Notwithstanding any repeal effected by this section, the law in force immediately before the commencement of this Act shall, subject to the provisions of the proviso to section 15(a), continue to apply to every money lending transaction entered into before, and to every instrument of debt executed in connection with a money lending transaction and existing at, such commencement. |