Section 14: Repeal, savings and transfer of assets, liabilities staff, etc.

(1)
The Nigerian Export Promotion Council Act 1976 is hereby repealed and the Council established thereunder is hereby dissolved.
[1976 No. 26.]
(2) By virtue of this Act, there shall be vested in the Council all assets, funds, resources and other movable or immovable property which immediately before the commencement of this Act were vested in the Council dissolved by and under subsection (1) of this section.
(3) The rights, interests, obligations and liabilities of the dissolved Council existing before this Act under any contract or instrument, or in law or in equity apart from any contract or instrument, shall by virtue of this Act be assigned to and vested in the Council established by this Act.
(4) Any such contract or instrument as is mentioned in subsection (3) of this section shall be of the same force and effect against or in favour of the Council established by this Act and shall be enforceable as fully and effectively as if instead of the dissolved Council, the Council established by this Act has been named therein or had been a party thereto.
(5) The Council shall be subject to all the obligations and liabilities to which the dissolved Council was subject immediately before the commencement of this Act and all other persons shall have the same rights, powers and remedies against the Council as they had against the dissolved Council immediately before the commencement of this Act.
(6) Any proceedings or cause of action pending or existing immediately before the commencement of this Act by or against the dissolved Council in respect of any right, interest, obligation or liability of the dissolved Council may be continued or as the case may be, commenced and any determination of a court of law, tribunal or other authority or person may be enforced by or against the Council to the same extent that such proceedings, cause of action or determination might have been continued, commenced or enforced by or against the dissolved Council as if this Act had not been made.
(7)
All assets, funds, resources and other movable or immovable property which immediately before the commencement of this Act were vested in the dissolved Council shall by virtue of this Act and without further assurance be vested in the Council.
(8) Notwithstanding the repeal of the enactment referred to in this section, if the Council thinks it is expedient that any vacancy in the Council should be filled by a person holding office at the commencement of this Act in the Council dissolved by this section, it may employ such person by way of transfer to the Council and the previous service in the dissolved Council by such person shall count as service for the purposes of any pension subsequently payable by the Council.