Singapore legislation

Clause 6

of Economic Development Board (Transfer of Assets) Bill

Clause 6

Guarantees

The Minister for Finance shall as from the date of the coming into operation of this Act take over the liability of the Board under any guarantees entered into by the Board in respect of loans raised by industrial enterprises and the Minister for Finance may enter into an arrangement with any bank to take over such liability as aforesaid.

Read in full context — Economic Development Board (Transfer of Assets) Bill →