Clause 18

On the appointed day, all property, rights and liabilities of the predecessor university relating to the ASPF Scheme shall be transferred to and vest in the university company.

Any person who, immediately before the appointed day, was a member or former member of the ASPF Scheme shall, on and after that day, continue to be a member or former member, as the case may be, of the ASPF Scheme.

The Minister shall, by notification in the Gazette, specify the date on which the ASPF Scheme shall be dissolved.

The university company shall, on the dissolution date, dissolve the ASPF Scheme in accordance with the First Schedule.

Notwithstanding section 21, until such time as the ASPF Scheme is dissolved —

On the dissolution date, the property and rights of the university company relating to the ASPF Scheme shall be transferred to and vest in the CPF Board in accordance with the First Schedule.

The Minister may, by order published in the Gazette, amend the First Schedule.

In this section and the First Schedule, unless the context otherwise requires —

“ASPF Scheme” means the Academic Staff Provident Fund Scheme established by the predecessor university under Statute 18;

“CPF Board” means the Central Provident Fund Board established and constituted under the Central Provident Fund Act (Cap. 36);

“dissolution date” means the date specified by the Minister under subsection (3);

“Statute 18” means Statute 18 (Academic Staff Provident Fund Scheme) made pursuant to the National University of Singapore Act (Cap. 204), as may be amended from time to time by the Board of Trustees of the university company under subsection (5)(b).