Singapore legislation

Clause 25

of National Library Board Bill

Clause 25

Transfer of assets and liabilities

(1)

As from the appointed day, all movable property vested in the Government immediately before that day and used or managed by the National Library and all assets, rights, interests, liabilities and obligations of the Government relating to the National Library shall be transferred to and shall vest in the Board without further assurance.

(2)

As from the appointed day, the Board shall control and manage all the libraries which are under the control of the National Library.

(3)

If any question arises as to whether any particular property, or whether any particular asset, right, interest, liability or obligation has been transferred to or vested in the Board under subsection (1), a certificate under the hand of the Minister for Finance shall be conclusive evidence that the property, asset, right, interest, liability or obligation was or was not so transferred or vested.