Singapore legislation

Clause 25

of Accounting and Corporate Regulatory Authority Bill

Clause 25

Existing contracts

(1)

All deeds, contracts, schemes, bonds, agreements, instruments and arrangements subsisting immediately before the appointed day to which the Government is a party and relating to the Registry of Companies and Businesses or to any person transferred to the service of the Authority under section 23(1)(a) shall continue in force on and after that day and shall be enforceable by or against the Authority as if the Authority had been named therein or had been a party thereto instead of the Government.

(2)

All deeds, contracts, schemes, bonds, agreements, instruments and arrangements subsisting immediately before the appointed day to which the Public Accountants Board is a party shall continue in force on and after that day and shall be enforceable by or against the Authority as if the Authority had been named therein or had been a party thereto instead of the Public Accountants Board.

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