Section 28: Repeal of 1998 No.41, and Saving Provisions, etc.

(1) The Oil Mineral Producing Areas Development Commission Decree 1998 is hereby repealed and accordingly the Commission established under that Decree (in this section referred to as "the dissolved Commission") is consequentially dissolved.
(2) By virtue of this Act, there shall be vested in the Commission immediately at the commencement of this Act, without further assurance, all assets, funds, resources, and other movable and immovable property which immediately before the commencement of this Act were vested in the dissolved Commission.
(3) As from the date of the commencement of this Act, all rights, interests, obligations and liabilities of the dissolved Commission existing before the commencement of this Act under any contract or instrument or in law or equity, shall by virtue of this Act be assigned to and vested in the Winding-up Committee to be established and funded by the Federal Government to verify and settle outstanding debt of the dissolved Commission.
(4) Any proceedings or cause of action pending or existing immediately before the commencement of this Act by or against the dissolved Commission in respect of any right, interest, obligation or liability of the dissolved Commission may be commenced or continued, as the case may be, and any determination of any court of law, tribunal or other authority or person may be enforced by or against the Commission to the same extent that the proceedings, cause of action or determination might have been continued, commenced or enforced by or against the dissolved Commission as if this Act had not been made.
(5) Notwithstanding the provisions of this Act but subject to such directions as may be issued by the Commission, a person who immediately before the commencement of this Act held office in the dissolved Commission shall be deemed to have been transferred to the Commission on terms and conditions not less favourable than those obtaining immediately before the commencement of this Act, and service in the dissolved Commission shall be deemed to be service in the Commission for purposes of pension.
(6)
The President, Commander-in-Chief of the Armed Forces, if he thinks fit, may, within twelve months after the commencement of this Act, by order published in the Federal Gazette, make additional transitional or saving provisions for the better carrying out of the objectives of this section.