Section 20: Saving of existing arrangements for transfer of deposits to and from other countries

All arrangements entered into by the Director of Posts and Telegraphs under the Savings Bank Act for the transfer of any sums of money standing to the credit of depositors in Nigeria to the post office savings bank of any foreign country and similarly for the transfer of any sums of money from such savings bank to the credit of depositors in Nigeria into the Savings Bank established by the Savings Bank Act, and which are in force on the coming into operation of this Act, shall be deemed to have been entered into by the managing director under the provisions of section 14 of this Act.
[Cap. 188 of the L.F.N. 1958 Edition]