Singapore legislation
Section 14
Section 14
Transfer of Government property to Authority for purposes of this Act
(1)
There shall be transferred to the Authority for the purposes of this Part, such lands, buildings and other property, movable or immovable, vested in or belonging to the Government as the Minister for Finance may think fit, and any lands, buildings and other property so transferred shall vest in the Authority without further assurance.
(2)
Upon such transfer, all debts, liabilities and obligations in connection with or appertaining to such lands, buildings and other property shall also be transferred to and be deemed to have been incurred by the Authority.[15