Section 8: Validity of previous instruments, etc.

(1) Any contract, instrument, mortgage, deed, surrender or assurance for securing the repayment of money entered into, signed, sealed executed or perfected by, and any receipt, release, reconveyance or acquittance or other assurance of lands or property which shall have been mortgaged as security signed or executed by, and any consent given to an alteration of the conditions of any security by the corporation sale known prior to the 30th day of August, 1957, as the Financial Secretary of the Federation Corporation Sale or, after that date, as the Ministry of Finance Incorporated shall continue to be valid and shall be deemed to have been entered into, signed, sealed, executed, perfected or given as the case may be by the corporation under and in accordance with the provisions of this Act:
Provided that nothing in this subsection shall operate to validate or cure any defect in any of the said instruments which were invalid or defective immediately prior to the coming into operation of this Act.
(2) All contracts, instruments, mortgages, deeds, surrenders or assurances executed by the former Financial Secretary of the Federation or any of his predecessors in office as chairman of the African Staff Housing Board or in any other official representative capacity, to secure the repayment of money lent by the said Board or by or on behalf of the Government vested in the corporation and enuring for the benefit of the Treasury immediately prior to the coming into operation of this Act, shall continue to vest in the corporation and enure for the benefit of the Treasury, and all receipts, releases, reconveyances and acquittances and other assurances of lands and property which shall have been mortgaged as security for any money lent as aforesaid, executed by the Permanent Secretary on behalf of the corporation whether before or after the coming into operation of this Act or executed by any previous holder of the office of Permanent Secretary of the Federation as a corporation sole, are hereby declared to be effectual discharges for all such sums repaid.
(3)
Without need for any change of title in any instrument existing prior to the 30th day of August, 1957, the Permanent Secretary may carry out any of the functions referred to in this Act as though he was carrying out such functions in respect of the corporation sole known prior to that date as the Permanent Secretary of the Federation Corporation Sale.