Repeal of public debt law: prior acts and rules are saved and treated as governed by the government securities framework. The statute repeals the Public Debt Act, 1944 while providing that actions taken under the repealed Act are deemed to have been taken under the Government Securities Act, 2006 as amended, and that rules made under the repealed Act immediately before commencement are deemed to be regulations of the Bank under the Government Securities Act, 2006.