Singapore legislation
Clause 12
Clause 12
Vesting of the assets and property in the Board
(1)
The Minister may, by order published in the Gazette, provide for the Board to take over the functions pertaining to family planning and the assets and property of any body or association which is —
registered under the provisions of subsection (3) of section 11;
required to be registered under subsection (2) of section 11 but is not so registered.
(2)
All the assets and property of any body or association in respect of which an order has been made under subsection (1) shall, upon the coming into operation of the order, vest in the Board without further assurance and freed and discharged from all trusts whatsoever, but subject nevertheless to the provisions of this Act.
(3)
Any existing trustees of the body or association on the date of the coming into operation of the order made under subsection (1) shall be released and discharged from any duties or responsibilities under any trust which may have existed immediately prior to the coming into operation of such order.