Clause 49

On such date as the Minister may, by order published in the Gazette, appoint (referred to in this Act as the transfer date), all the property, rights and liabilities comprised in the Corporation’s undertaking to which the Corporation was entitled or subject immediately before that date shall become, by virtue of this section and without further assurance, the property, rights and liabilities of the Authority and companies nominated for the purposes of this section by the Minister (referred to in this Act as the broadcasting successor companies) in such manner of distribution and allocation as determined by the Minister and agreed to by the Minister for Finance, including any division or sharing between the broadcasting successor companies and the Authority or any of them, of any one or more items of such property, rights or liabilities.

Any immovable property to be transferred to and vested in a broadcasting successor company or the Authority under subsection (1) shall be held by the company or the Authority, as the case may be, upon such tenure and subject to such terms and conditions as the President may determine.

The Authority shall grant, as from the transfer date, broadcasting licences and broadcasting apparatus licences to each broadcasting successor company according to the property, rights and liabilities so vested in the company.

If any question arises as to whether any particular property, right or liability has been transferred to or vested in any broadcasting successor company or the Authority under this Act, a certificate under the hand of the Minister for Finance shall be conclusive evidence that the property, right or liability was or was not so transferred or vested.

It is hereby declared for the avoidance of doubt that —

It shall be the duty of each broadcasting successor company and the Authority to take all such steps as may be requisite to secure that the vesting in each such company and the Authority by virtue of this section of any foreign property, right or liability is effective under the relevant foreign law and until such time it shall be the duty of the Authority, as the successor of the Corporation, to hold that property or right for the benefit of, or to discharge that liability on behalf of, each such company and the Authority, as the case may be.

As from the transfer date for all purposes the Authority shall be deemed to be acting in place of the Corporation as its successor in title and there shall be deemed to be vested in the Authority all property, rights and liabilities of the Corporation previously not vested specifically in the broadcasting successor companies or the Authority under this Act.

Nothing in subsections (6) and (7) shall be construed as prejudicing the effect under the laws of Singapore of the vesting in any broadcasting successor company or the Authority by virtue of this section of any foreign property, right or liability.

Any expenses incurred by the Authority under subsection (6) or (7) shall be paid by the relevant broadcasting successor company or the Authority, as the case may be.

In this section, references to any foreign property, right or liability are references, respectively, to any property, right or liability comprised in the Corporation’s undertaking in respect of which any issue arising in any proceedings would have been determined (in accordance with the rules of conflict of laws) by reference to the law of a country or territory outside Singapore.