Section 36: Exceptions as to transfer of assets and liabilities

(1) Notwithstanding anything contained in section 35 of this Act, there shall not, by reason of the transfer of assets and liabilities provided for therein, be transferred to the Corporation-
(a) any liability in respect of amounts shown in the accounts of the Government railway undertaking as advances made by the Government of the Federation, or, prior thereto, by the Government of Nigeria, or as advances made from the Joint Colonial Fund; or
(b) any liability for the payment of pensions to persons employed in the Government railway undertaking, in respect of services before the vesting day; or
(c) moneys and investments held on behalf of the Nigerian Railway Pension Reserve Fund.
(2)
A gratuity or annual allowance (other than a gratuity or pension payable under the Pensions Act, or any Act repealed thereby, or under the Nigerian Government Railway Pensionable Offices Act), to which a person is eligible by contract or custom by virtue of service with the Government of the Federation before service with the Corporation, shall not be included within the term "pensions" for the purpose of subsection (1) of this section and such gratuity or annual allowance shall, upon payment by such Government to the Corporation of such lump sum or sums as shall be agreed upon, by a matter within the authority of the Corporation, whether it is payable by virtue of any legal liability or not, and shall not be a responsibility of such Government.
[Cap. P4.]