Power transition to Public Debt Management Agency: Bank's directions under the Act are repealed and prior actions preserved. The amendment substitutes the Bank with the Public Debt Management Agency for all references in the Government Securities Act, effecting an institutional transfer of functions, declares all prior directions issued by the Bank under the Act to be repealed on commencement, and expressly validates and continues as lawful all actions taken by persons under those former directions; commencement is by government notification with possible staggered dates.