Section 22: Repeal of 1992 No 23, and saving provision, etc

(1) The Oil Mineral Producing Areas Development Commission Decree 1992 is hereby repealed and accordingly the commission established under that Decree (in this section referred to as "the dissolved Commission") is consequentially dissolved.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 commencement of this Act-
(a) 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 in equity, shall by virtue of this Decree be assigned to and vested in the Commission;
(b) any contract or instrument as is mentioned in paragraph (a) of this subsection shall be of the same force and effect against or in favour of the Commission established by this Act and shall be enforceable as fully and effectively as if instead of the dissolved Commission, the Commission had been named therein or had been a party thereto;
(c) the Commission shall be subject to all the obligations and liabilities to which the dissolved Commission was subject immediately before the commencement of this Act and all other persons shall have the same rights, powers and remedies against the Commission as they had against the dissolved Commission immediately before the commencement of this Act.
(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, if he thinks fit, may, within twelve months after the commencement of this Act, by order published in the Gazette, make additional transitional or saving provisions for the better carrying out of the objectives of this section.