Section 23

the Seamen’s Registry Board, the Seafarers’ Welfare Board, the Singapore Mariners’ Club Committee, the Singapore Sailors’ Institute Committee and the Seamen’s Lodging-Houses Licensing Authority constituted under the Seamen’s Registry Board Act*, the Seafarers’ Welfare Board Act*, the Singapore Mariners’ Club Act*, the Singapore Sailors’ Institute Incorporation Ordinance* and section 114(1)* of the Merchant Shipping Act [1970 Ed. Cap. 172], respectively, shall cease to exist;

all sums and other assets standing to the credit of the bodies set out in paragraph (a) shall forthwith be paid to the account of or be transferred to the credit of the Board;

the Singapore Mercantile Marine Fund† shall be transferred to the National Maritime Fund set up under section 16 and shall vest in the Board under this Act without further assurance and shall cease to exist as a separate fund;† Fund set up under section 347(8) of the Merchant Shipping Act (1970 Ed. Cap. 172) (repealed by this Act) and now known as the National Maritime Fund — see section 16(1) of this Act.(d)all the assets and movable and immovable property of every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 prior to the commencement of this Act were vested in the bodies set out in paragraph (a) shall forthwith be transferred to and vest in the Board without further assurance and freed and discharged from any trust whatsoever, but subject nevertheless to the provisions of this Act; and

all rights, powers, liabilities and obligations of the bodies set out in paragraph (a) which may have existed immediately prior to the commencement of this Act shall be transferred to and vest in the Board.