Singapore legislation
Section 13
of Post Office Savings Bank of Singapore (Transfer of Undertakings and Dissolution) Act
Section 13
Evidence of transfer of undertakings
(1)
The production of a Government Printer’s copy of this Act, and such evidence of publication of the transfer date in the Gazette as is specified in section 3, shall, for all purposes, be conclusive evidence of the transfer of the undertakings to the Bank and the vesting of the undertakings in the Bank in accordance with the provisions of this Act.
(2)
Without prejudice to the generality of subsection (1) —
a Government Printer’s copy of this Act, together with such evidence of publication in the Gazette of the transfer date, shall, in relation to any registered securities transferred to, and vested in, the Bank by virtue of this Act, operate for all purposes as a duly executed instrument of transfer in respect of the transfer of the registered securities from POSB or, as the case may be, Credit POSB to the Bank; and
any deed or other instrument or document made or executed on or after the transfer date whereby the Bank, whether alone or jointly with any other person, conveys, transfers or assigns, or purports to convey, transfer or assign, to any person (whether for consideration or not), or applies to be registered as the holder, proprietor or owner of, any property held by POSB or, as the case may be, Credit POSB immediately before the transfer date, whether alone or jointly with any other person, shall be sufficient evidence that the interest of POSB or, as the case may be, Credit POSB in such property became vested in the Bank by virtue of this Act.
(3)
In subsection (2), “registered securities” means shares, stocks, debentures, loans, bonds, units of a unit trust scheme or other shares of the investments subject to the trusts of such a scheme, and other securities of any description which are transferable and the holders of which are entered in a register (whether maintained in Singapore or not).