119.—Notwithstanding section 6 of this Act, where the ownership of a house has been acquired by means of an advance under the Small Dwellings Acquisition Acts and the advance with interest was not fully paid to the housing authority before the repeal of the said Acts, then—

(a) the provisions of the said Acts which by reason of the making of the advance had effect in any particular case immediately before such repeal shall as respects the case continue to have effect,

(b) the provisions of the said Acts in relation to the application of capital money and the keeping of separate accounts shall continue in force,

until the advance with interest has been fully repaid or the authority have by virtue of this section taken possession of or ordered and conducted a sale of the house and any requirement of the said provisions as to the payment of a sum to the proprietor or the disposal of the proceeds has been satisfied.