Singapore legislation
Clause 24
Clause 24
Transfer of property, assets and liabilities to National Heritage Board
(1)
As from the appointed day, all movable and immovable property vested in the Preservation of Monuments Board and all assets, interests, rights, privileges, liabilities and obligations of that Board shall be transferred to and shall vest in the National Heritage Board without further assurance, act or deed.
(2)
Any immovable property to be transferred to and vested in the National Heritage Board under subsection (1) shall be held by that Board upon such tenure and subject to such terms and conditions as the President may determine.
(3)
Every proceedings by or against the Preservation of Monuments Board which are pending on the appointed day may be continued, completed and enforced by or against the National Heritage Board.
(4)
Every agreement relating to any of the transferred properties to which the Preservation of Monuments Board 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 date as if —
the National Heritage Board had been a party to such an agreement; and
for any reference to the Preservation of Monuments Board there were substituted in respect of anything to be done on or after the appointed day a reference to the National Heritage Board.
(5)
It is hereby declared for the avoidance of doubt that —
any reference in this Part to property vested in the Preservation of Monuments Board is a reference to such property of that Board whether situated in Singapore or elsewhere; and
any such reference to rights and liabilities of the Preservation of Monuments Board is a reference to such rights to which that Board is entitled or, as the case may be, such liabilities to which that Board is subject, whether under the laws of Singapore or any country outside Singapore and includes rights and liabilities arising under loans raised by that Board.