Onward transfer certificate
64.—(1)  If the Minister approves a determination under section 63, the Minister must, as soon as practicable, issue a certificate (called in this section the onward transfer certificate), which is to come into effect on the date specified in the certificate.
(2)  The onward transfer certificate must specify such information as may be prescribed by regulations made under section 126.
(3)  The onward transfer certificate may make provision for all or any of the following matters:
(a)the onward transfer approved by the Minister;
(b)the effective date of the onward transfer, if different from the date on which the onward transfer certificate comes into effect;
(c)the consideration, if any, to be paid by the 2nd transferee to the transferee and the period within which the consideration is to be paid;
(d)such incidental, consequential and supplementary matters as are, in the Minister’s opinion, necessary to secure that the onward transfer is fully effective, including any condition mentioned in section 63(5).
(4)  The Minister may, at any time before the onward transfer certificate comes into effect, add to, vary or revoke any matter specified in the onward transfer certificate.
(5)  On or before the date on which the onward transfer certificate comes into effect, the Authority must cause the onward transfer certificate and any addition, variation or revocation mentioned in subsection (4) —
(a)to be served on the transferee and the 2nd transferee; and
(b)to be published in the Gazette and in such newspaper or newspapers as the Minister may determine.
(6)  Subject to subsection (7), unless otherwise specified in the onward transfer certificate, the effective date of the onward transfer is the date on which the onward transfer certificate comes into effect.
(7)  Despite any written law or rule of law (including section 58 as it applies to the certificate of transfer in question), on the effective date of the onward transfer —
(a)subject to subsection (10) —
(i)the business that is the subject of the onward transfer is transferred to and vests in the 2nd transferee without other or further assurance, act or deed; and
(ii)the onward transfer certificate has effect according to its tenor and is binding on any person affected by it;
(b)no deed, bond, agreement or other arrangement (including any deed, bond, agreement or other arrangement mentioned in section 58(8)(b)) which relates to the business that is the subject of the onward transfer, is considered terminated by reason only of the onward transfer, but each of these continues in full force and effect and is enforceable by or against the 2nd transferee (as the case may be) as if the 2nd transferee had been named in it or had been a party to it instead of the transferee; and
(c)any proceedings or cause of action, by or against the transferee, pending or existing immediately before the effective date of the onward transfer (including those mentioned in section 58(8)(c)) and relating to the business that is the subject of the onward transfer may be continued and enforced by or against the 2nd transferee as from that date.
(8)  Subsection (7)(b) does not apply to a contract of employment.
(9)  To avoid doubt, this section does not affect the operation of section 18A of the Employment Act (Cap. 91).
(10)  Section 58(9) to (17) applies in relation to an onward transfer as it applies to a transfer of business under this section as if —
(a)a reference to the business to be transferred is a reference to the business that is the subject of the onward transfer;
(b)a reference to the transferor is a reference to the transferee;
(c)a reference to the transferee is a reference to the 2nd transferee; and
(d)a reference to the certificate of transfer is a reference to the onward transfer certificate.
[Act 31 of 2017 wef 29/10/2018]