Section 22: Dissolution of existing Agency

(1) The Steel Raw Materials Exploration Agency hitherto operating under the National Steel Council established under the National Steel Council Act is hereby dissolved. (Cap. N76.)
(2) A person who immediately before the commencement of this Act was a member of staff or an employee of the dissolved Agency shall as from the commencement of this Act become the holder of an appointment in the Agency with the status, rank, designation and functions which correspond as far as possible to those which appertained to him as a member of that staff or as an employee.
(3) All assets, rights, liabilities and obligations which immediately before the commencement of this Act were assets, rights, liabilities and obligations of the dissolved Agency shall, by virtue of this Act and without further assurance vest in or be taken over by the Agency.
(4) Anything made or done or having effect as if made or done before the commencement of this Act by the dissolved Agency and having any resulting or continuing effect shall be treated as from the commencement of this Act as if it were made or done by the Agency.