Singapore legislation
Section 22
Section 22
Transfer to Agency of property, assets and liabilities
(1)
As from 15 March 2000, any movable and immovable property vested in the Government that may be determined by the Minister for Finance and used or managed by any of the incorporated Departments, and all assets, interests, rights, privileges, liabilities and obligations of the Government relating to the incorporated Departments are transferred to and vest in the Agency without further assurance, act or deed.
(2)
If any question arises as to whether any particular property, asset, interest, right, privilege, liability or obligation has been transferred to or vested in the Agency under subsection (1), a certificate under the hand of the Minister for Finance is conclusive evidence that the property, asset, interest, right, privilege, liability or obligation was or was not so transferred or vested.
(3)
Any immovable property to be transferred to and vested in the Agency under subsection (1) must be held by the Agency upon such tenure and subject to such terms and conditions as the President may determine.