Section 22

Any obligation, liability, penalty or punishment imposed, made, accrued or incurred under the principal Act on the date of coming into operation of this Act shall, after the date of coming into operation of this Act, continue to be in force and have effect as if the principal Act has not been amended by this Act.

For the purposes of section 14 of the principal Act, where a hirer and owner has entered into a hire-purchase agreement prior to and which continues to exist after the date of coming into operation of this Act, such hirer and the owner may mutually agree to elect the method of calculating the net balance due under the hire-purchase agreement in accordance with the principal Act as amended by this Act.