Singapore legislation
Clause 30
Clause 30
Transfer to Authority of property, assets and liabilities
(1)
As from the appointed day, such property, rights and liabilities vested in the National Maritime Board, the Port of Singapore Authority and the Government relating to the Marine Department as may be determined by the Minister for Finance shall become, by virtue of this section and without further assurance, the property, rights and liabilities of the Authority.
(2)
If any question arises as to whether any particular property, right or liability has been transferred to or vested in the Authority under subsection (1), a certificate under the hand of the Minister for Finance shall be conclusive evidence that the property, right or liability was or was not so transferred or vested.
(3)
Any immovable property to be transferred to and vested in the Authority under subsection (1) shall be held by the Authority upon such tenure and subject to such terms and conditions as the President may determine.