Savings provision preserves pre-existing rights and remedies while insolvency rules and security-form transactions remain unaffected.

The Act's savings provision preserves pre-existing rights, titles, interests, obligations, liabilities, proceedings, remedies, prior acts, unrepealed enactments relating to sale of goods and rules of law not inconsistent with the Act. The rules of insolvency relating to contracts for the sale of goods continue to apply notwithstanding the Act. The Act's sale-of-goods provisions do not apply to transactions in the form of a contract of sale intended to operate by way of mortgage, pledge, charge or other security.

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