Singapore legislation
Section 25
Section 25
Transfer of assets and liabilities
(1)
As from 1 September 1995, all movable property vested in the Government immediately before that date and used or managed by the National Library and all assets, rights, interests, liabilities and obligations of the Government relating to the National Library shall be transferred to and shall vest in the Board without further assurance.
(2)
As from 1 September 1995, the Board shall control and manage all the libraries which are under the control of the National Library.
(3)
If any question arises as to whether any particular property, or whether any particular asset, right, interest, liability or obligation has been transferred to or vested in the Board under subsection (1), a certificate under the hand of the Minister for Finance shall be conclusive evidence that the property, asset, right, interest, liability or obligation was or was not so transferred or vested.