Singapore legislation
Section 32
Section 32
Transfer to Agency of property, assets and liabilities
(1)
As from 1 July 2002, such movable and immovable property vested in the Government as may be determined by the Minister for Finance and used or managed by any of the departments specified in the Schedule and all assets, interests, rights, privileges, liabilities and obligations of the Government relating to any such department 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, or whether any particular 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) is held by the Agency upon such tenure and subject to such terms and conditions as the President may determine.
(4)
All proceedings in respect of the transferred properties by or against the Government which are pending on 1 July 2002 may be continued, completed and enforced by or against the Agency.
(5)
Every agreement relating to any of the transferred properties to which the Government was a party immediately before 1 July 2002, whether or not of such nature that the rights and liabilities thereunder could be assigned, has effect as from that date as if —
the Agency had been a party to such an agreement; and (b)for any reference to the Government there was substituted in respect of anything to be done on or after 1 July 2002 a reference to the Agency.