(1)  Nothing in this Act or in any repeal effected thereby shall affect or be deemed to affect—

   (a)  any right, title, interest, obligation or liability already acquired, accrued or incurred before the commencement of this Act, or

   (b)  any legal proceedings or remedy in respect of any such right, title, interest, obligation or liability, or

   (c)  anything done or suffered before the commencement of this Act, or

   (d)  any enactment relating to the sale of goods which is not expressly repealed by this Act, or

   (e)  any rule of law not inconsistent with this Act.

   (2)  The rules of insolvency relating to contracts for the sale of goods shall continue to apply thereto, notwithstanding anything contained in this Act.

   (3)  The provisions of this Act relating to contracts of sale do not apply to any transaction in the form of a contract of sale which is intended to operate by way of mortgage, pledge, charge or other security.