Singapore legislation
Clause 60
Clause 60
Transfer to Board of property, assets and liabilities
(1)
As from the appointed day, such movable and immovable property vested in the Government as may be determined by the Minister for Finance and used or managed by the Sewerage Department and the Drainage Department and all assets, interests, rights, privileges, liabilities and obligations of the Government relating to the Sewerage Department and the Drainage Department shall be transferred to and shall vest in the Board without further assurance, act or deed.
(2)
If any question arises as to whether any particular property, asset, interest, right, privilege, 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, interest, right, privilege, liability or obligation was or was not so transferred or vested.
(3)
Any immovable property to be transferred to and vested in the Board under subsection (1) shall be held by the Board upon such tenure and subject to such terms and conditions as the President may determine.
(4)
Every proceedings by or against the Government relating to the Sewerage Department or the Drainage Department which are pending on the appointed day may be continued, completed and enforced by or against the Board.
(5)
Every agreement relating to any of the transferred properties to which the Sewerage Department or the Drainage Department was a party immediately before the appointed day, whether or not of such nature that the rights and liabilities thereunder could be assigned, shall have effect as from that day as if —
the Board had been a party to such an agreement; and
for any reference to the Sewerage Department or the Drainage Department there were substituted in respect of anything to be done on or after the appointed day a reference to the Board.