Section 4: Application

This Act-(a)
applies to all pensionable officers of a statutory corporation whether or not such officer was employed by the corporation by or under any contract,agreement or arrangement or under any instrument whatsoever, and anything under the terms of employment of the officer inconsistent with the provisions of this Act, shall to the extent of the inconsistency be void and of no effect;
(b) applies to all persons who qualify for or become pensionable officers in the employment of any statutory corporation before, on or after the commencement of this Act
(c)
extends to any corporate body established under the Companies and Allied Matters Act which is owned or partially owned by the Government of the Federation or of a State in the Federation, or as respects which the Government of the Federation or of such State owns any shares, stocks or debentures;
(d)
shall not be so construed as to affect any action or proceedings begun, instituted or pending before a court of law at the commencement of this Act; and any action or proceedings begun or instituted after that date shall, accordingly, abate.