Singapore legislation
Section 26
Section 26
No breach or default because of transfer
(1)
The operation of this Part shall not be regarded —
as a breach of contract or confidence or otherwise as a civil wrong;
as a breach of any contractual provision prohibiting, restricting or regulating the assignment or transfer of assets or liabilities; or
as giving rise to any remedy by a party to a legal instrument, or as causing or permitting the termination of any legal instrument, because of a change in the beneficial or legal ownership of any asset or liability.
(2)
The operation of section 24 shall not be regarded as an event of default under any contract or other legal instrument.
(3)
Any provision in any existing contract, agreement, conveyance, deed, lease, guarantee, bond, indemnity and other instrument or undertaking to which the Preservation of Monuments Board is a party or may be bound prohibiting or having the effect of prohibiting the transfer of any property, rights, obligations or liabilities comprised in the undertaking transferred under this Part is deemed by this Act to have been waived by this Act.