Accounting and Corporate Regulatory Authority Act 2004 · 2020 Revised Edition · Part 6 · Transfer of Property, Assets, Liabilitiesand Employees
21. Transfer to Authority of property, assets and liabilities
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such movable and immovable property vested in the Government as may be determined by the Minister for Finance and used or managed by the Registry of Companies and Businesses and all assets, interests, rights, privileges, liabilities and obligations of the Government relating to the Registry of Companies and Businesses; and
the movable and immovable property vested in the Public Accountants Board and all assets, interests, rights, privileges, liabilities and obligations of the Public Accountants Board,are, without further assurance, act or deed, transferred to and vest in the Authority.
If any question arises as to whether any particular property, asset, interest, right, privilege, liability or obligation has been transferred to or vested in the Authority under subsection (1), a certificate under the hand of the Minister for Finance is conclusive evidence that the property, asset, interest, right, privilege, liability or obligation was or was not so transferred or vested.
asset
“asset”, in relation to the transferor, means property of any kind (whether tangible or intangible, whether arising from, accruing under, created or evidenced by or the subject of, an instrument or otherwise and whether actual or contingent) of the transferor on the eve of the transfer date and includes, without limitation, any —(a)legal or equitable interest in real or personal property;(b)chose in action;(c)security;(d)money;(e)intellectual property;(f)infrastructure, plant and equipment;(g)records and information (including data) in any form; and(h)right;
Any immovable property to be transferred to and vested in the Authority under subsection (1) must be held by the Authority upon such tenure and subject to such terms and conditions as the President may determine.[22