PORTS ACT

Section 20: Provision for free reserve.

1956Section 20 of 138Federal Republic of Nigeria

(1) The Government may provide a free reserve of such an amount as may be considered appropriate as at the vesting day, having regard to the total value of the assets vesting in the Authority on the vesting day by virtue of this Act.
(2) When any assets are vested in the Authority by an order made under section 18 of this Act, the amount of the free reserve created under this section may be increased to a sum considered appropriate, having regard to the value of the assets so vested.

Cite this section

Section 20, PORTS ACT (1956).

https://repo.podus.ai/laws/ports-act/section/20/