Clause 23

the Seamen’s Registry Board, the Seafarers’ Welfare Board, the Singapore Mariners’ Club Committee, the Singapore Sailors’ Institute Committee and the Seamen’s Lodging-Houses Licensing Authority constituted under the Seamen’s Registry Board Act, the Seafarers’ Welfare Board Act, the Singapore Mariners’ Club Act, the Singapore Sailors’ Institute Incorporation Ordinance and section 114(1) of the Merchant Shipping Act, respectively, shall cease to exist;

all sums and other assets standing to the credit of the bodies set out in paragraph (a) of this section shall forthwith be paid to the account of or be transferred to the credit of the Board;

the Singapore Mercantile Marine Fund shall be transferred to the National Maritime Fund set up under section 16 of this Act and shall vest in the Board under this Act without further assurance and shall cease to exist as a separate fund;

all the assets and movable and immovable property of every description and all the powers, rights and privileges in connection therewith or appertaining thereto which immediately prior to the date of the coming into operation of this Act were vested in the bodies set out in paragraph (a) of this section shall forthwith be transferred to and vest in the Board without further assurance and freed and discharged from any trust whatsoever, but subject nevertheless to the provisions of this Act; and

all rights, powers, liabilities and obligations of the bodies set out in paragraph (a) of this section which may have existed immediately prior to the date of the coming into operation of this Act shall be transferred to and vest in the Board.