95. Interpretation of this Part

In this Part, unless the context otherwise requires —“asset”, in relation to the transferor, means property of any kind (whether tangible or intangible, whether arising from, accruing under, created or evidenced by or the subject of, an instrument or otherwise and whether actual or contingent) of the transferor on the eve of the transfer date and includes, without limitation, any —

legal or equitable interest in real or personal property, whether situated in Singapore or elsewhere;

chose in action;

money or securities;

plant and equipment, whether situated in Singapore or elsewhere;

intellectual property;

infrastructure, whether situated in Singapore or elsewhere;

records; and

right;“fair trading functions” means the following functions:

promoting fair trading among suppliers and consumers and enabling consumers to make informed purchasing decisions in Singapore;

preventing suppliers in Singapore from engaging in unfair trading practices;

advising the Government, any public authority or any consumer protection organisation on fair trading matters generally;

administering and enforcing the Consumer Protection (Fair Trading) Act 2003;“liability”, in relation to the transferor, means any liability, duty or obligation (whether actual or contingent, liquidated or unliquidated, and whether owed alone or jointly and severally with any other person) of the transferor on the eve of the transfer date;“records”, in relation to the transferor, means registers, papers, documents, minutes, receipts, books of account and other records, however compiled, recorded or stored, of the transferor existing on the eve of the transfer date;“right”, in relation to the transferor, means any right, power, privilege or immunity of the transferor on the eve of the transfer date;“transfer date” means 1 April 2018;“transferor” means the Standards, Productivity and Innovation Board established by the Standards, Productivity and Innovation Board Act (Cap. 303A, 2002 Revised Edition).