OSO CONDENSATE PROJECT ACT

Section 2: Power to give security. etc .

1990Section 2 of 5Federal Republic of Nigeria

(1)
The Corporation may, for the purpose of receiving any loan for the carrying into effect of the Project, pledge any of the money, revenue, assets or may create escrow accounts outside Nigeria from which shall be repaid capital and interest on any amount of money received by the Corporation for the Project.
(2) Notwithstanding any provision of any enactment, any obligation imposed upon the Corporation, the receipt of any loan for the Project at in the exercise of the powers conferred upon it by section 1 (1) and subsection (1) of this section shall be enforceable by ordinary legal process, execution, attachment or any other process in the nature of attachment.
(3) The provisions of subsection (1) of this section shall only apply to accounts and assets set aside by the Corporation for the Project and shall not apply to any other account or asset of the Corporation.

Cite this section

Section 2, OSO CONDENSATE PROJECT ACT (1990).

https://repo.podus.ai/laws/oso-condensate-project-act/section/2/