Section 8: Compensation transferred assets.

(1) So soon as may be after the vesting day, the Corporation shall, in respect of any moneys advanced by the Government to the Government colliery undertakings since the 1st April, 1949, from loan funds to provide for working capital, create and issue to the Government debenture stock of a total nominal value equivalent to the total amount of such advances and bearing interest at a rate to be agreed upon by and between the Government and the Corporation.
(2) So soon as may be after the vesting day, the Corporation shall, in respect of the value of any fixed assets purchased out of the general revenues of Nigeria in connection with the transferred undertakings, create an advance account in favour of the Government of an amount to be agreed upon by and between the Government and the Corporation, and such advance account shall be subject to such terms as to interest and repayment as the National Council of Ministers may, from time to time, determine.