All the functions, powers, and duties vested in the former United States Shipping Board by the Shipping Act, 1916 [46 App.
et seq.], the Merchant Marine Act, 1920 [46 App.
et seq.], the Merchant Marine Act, 1928 [46 App.
et seq.], and amendments to those Acts, and now vested in the Department of Commerce pursuant to section 12 of the President’s Executive Order [No. 6166] of June 10, 1933, are hereby transferred to the Federal Maritime Commission and the Secretary of Transportation: Provided, however, That after June 29, 1936, no further construction loans shall be made under the provisions of section 11 of the Merchant Marine Act, 1920, as amended.