Singapore legislation

Section 12

Existing agreements and pending proceedings

(1)

All deeds, bonds, agreements, instruments and working arrangements subsisting immediately before the transfer date affecting —

(a)

the portion of the property, rights and liabilities transferred to the successor company under section 6; or

(b)

any employee of the Corporation transferred to the service of the successor company under section 8,shall continue in full force and effect on and after that date and shall be enforceable by or against the successor company as if, instead of the Corporation or any person acting on behalf of the Corporation, the successor company had been named therein or had been a party thereto.

(2)

Any proceedings or cause of action relating to —

(a)

the property, rights and liabilities transferred to and vested in the successor company under section 6; or

(b)

any employee of the Corporation transferred to the service of the successor company under section 8,pending or existing immediately before the transfer date by or against the Corporation or any person acting on its behalf may be continued and shall be enforced by or against the successor company.

Read in full context — CISCO (Dissolution) Act →