Singapore legislation
Clause 29
Clause 29
Repeal and re-enactment of section 62
Section 62 of the principal Act is repealed and the following section substituted therefor:“Date and effect of prohibition orders62.—
(1)
A prohibition order, or any variation or revocation of a prohibition order, shall take effect on the date specified in the order by the Authority.(2) A prohibition order shall not operate so as to —
(a)
avoid or affect any agreement, transaction or arrangement entered into by the person against whom the order is made, whether the agreement, transaction or arrangement was entered into before, on or after the issue of the prohibition order; or
(b)
affect any right, obligation or liability arising under any such agreement, transaction or arrangement.”.