(5)Nothing in this section shall prejudice—(a)the operation of any decree or order of a Court of competent jurisdiction pronounced or invade before the twenty-fifth day of February, 1910, as between the ( parties to the proceedings in which the decree or order was made, and any appeal from any such decree or order shall be decided as if this Act had not been passed; or(b)any power to issue debentures in the place of any debentures paid off or otherwise satisfied or extinguished, reserved to a company by its debentures or the securities for the same.
