Section 19: Guarantee or surety.

Any guarantee or surety-ship which was given or made or is deemed to be given or made under section 3 (12) by the Federal Government of Nigeria or any other person in respect of any debt or obligation of the initial holding company, and which was effective immediately before the subsequent transfer of the principal debt or obligation, shall remain fully effective against the guarantor or surety on or after the subsequent transfer date in relation to the repayment of the debt or the performance of the obligation, as the case may be, by the designated successor company to which the principal debt or obligation was transferred.