Provisions as to actions already barred and pending actions

Nothing in this Act shall, (a) enable any action to be brought which was barred before the commencement of this Act, by an enactment repealed by this Act, except in so far as the cause of action or right of action may be revived by an acknowledgment or part payment made in accordance with the provisions of this Act; or (b) affect any action or arbitration commenced before the commencement of this Act or the title to any property which is the subject of any such action or arbitration.