Singapore legislation

Section 18

of Monetary Authority of Singapore Act 1970

Section 18

Transfer of employees

(1)

On 1 January 1971, such persons, as the Minister may decide, who were employed by the Government immediately prior to that date and were exercising any of the powers or were discharging any of the functions or duties vested in the Authority by this Act, are deemed to be transferred to the service of the Authority on terms not less favourable than those they enjoyed immediately prior to their transfer.

(2)

Such terms (which are to be determined by the Authority) must take into account the salaries and conditions of service including any accrued rights to leave enjoyed by them while in the employment of the Government.

Section 18 — Monetary Authority of Singapore Act 1970