Singapore legislation
Clause 15
Clause 15
Transfer of assets and liabilities
As from the appointed day —
the National Theatre Trust Fund and all property, movable and immovable, vested in the National Theatre Trust immediately before that day, and all assets, rights and interests vested in, and all outstanding debts, liabilities and obligations incurred by, the National Theatre Trust in connection therewith; and
such movable property vested in the Government immediately before that day used to carry out any functions and services of the Arts Division in the Ministry of Information and the Arts which are similar to any functions vested in the Council by this Act, as the Minister for Finance may, by warrant, direct,shall be transferred to and shall vest in the Council without further assurance.