Singapore legislation
Section 4
Section 4
Vesting of assets and property in Association
(1)
Upon the coming into operation of this Part —
the Rubber Association of Singapore (referred to in this section as the unincorporated association) shall cease to exist as a society under the Societies Act [Cap. 311] and shall be transferred to and maintained by the Association;
the Association shall take over all the functions of the unincorporated association;
all the assets and movable and immovable property of every description and all the powers, rights and privileges in connection therewith or appertaining thereto which immediately before the date of commencement of this Part were vested in the unincorporated association shall forthwith vest in the Association freed and discharged from any trust whatsoever, but subject nevertheless to the provisions of this Act; and
all the liabilities and obligations of the unincorporated association which may have existed immediately before that date shall be transferred to and vest in the Association.
(2)
Any existing trustees of the unincorporated association at the date of the commencement of this Part shall forthwith be released and discharged from any duties or responsibilities under any trust which may have existed immediately before that date.