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6.—(1) The amendments made by paragraphs 22 and 24 of Schedule 1 to this Order do not apply in relation to any loans which—
(a)were made by the Housing Corporation by virtue of section 450B of the Housing Act 1985(1) before the commencement date; and
(b)are outstanding or otherwise in force or effective on that date.
(2) Section 450B of that Act (and any regulations made under it) continue to apply in relation to such loans without the amendments made by paragraphs 22 and 24 of Schedule 1 to this Order but as if references (however expressed) to the Housing Corporation were references to the HCA.
(3) Paragraph 5 above applies to functions transferred by sub-paragraph (2) above as it applies to the functions transferred to the HCA as mentioned in sub-paragraphs (1) and (2) of paragraph 5.
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