SHEDA SCIENCE AND TECHNOLOGY COMPLEX ACT

Section 24: Savings and transfer of liabilities, staff, etc.

1993Section 24 of 25Federal Republic of Nigeria

(1) The statutory functions, rights, interest, obligations and liabilities of the Complex existing before the commencement of this Act under any contract or instrument, shall by virtue of this Act be deemed to have been assigned to and vested in the Complex established by this Act.
(2) Any such contract or instrument as is mentioned in subsection (1) of this section shall be of the same force and effect against or in favour of the Complex established by this Act and shall be enforceable as fully and effectively as if instead of that Complex, the Complex established by this Act had been named therein or had been a party thereto.
(3) The Complex established by this Act shall be subject to all the obligations and liabilities to which the Complex was subject immediately before this Act and all other persons shall have the same rights, powers and remedies against the Complex established by this Act as they had against the Complex 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 Complex, in respect of any right, interest, obligation or liability of the Complex, 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 Complex established by this Act to the same extent that such proceedings, cause of action or determination might have been continued, commenced or enforced by or against the Complex established under the repealed Act.
(5) All assets, funds, resources and other movable or immovable property which immediately before the commencement of this Act, were vested in the Complex established under the repealed Act shall by virtue of this Act and without further assurance, be vested in the Complex established by this Act.
(6) Any person who immediately before the coming into force of this Act is the holder of any office in the Complex existing before the commencement of this Act shall, on the commencement of this Act, continue in office and be deemed to have been appointed to his office by the Complex established by this Act unless the authority by which the person was appointed terminates the appointment.

Cite this section

Section 24, SHEDA SCIENCE AND TECHNOLOGY COMPLEX ACT (1993).

https://repo.podus.ai/laws/sheda-science-and-technology-complex-act/section/24/