3. The Trade Development Board Act is amended by inserting, immediately after Part VI, the following Part:“PART VIA TRANSFER OF FUNCTIONS, ASSETS, RIGHTS,
LIABILITIES AND EMPLOYEES OF RUBBER
ASSOCIATION OF SINGAPORE |
| Transfer of assets, rights, liabilities and interests of Rubber Association |
26A. As from the appointed day —| (a) | all assets, rights and interests of every description which immediately before that day were vested in the Rubber Association of Singapore shall vest in the Board without further assurance, conveyance or other instrument; and | | (b) | all outstanding liabilities incurred before that day by the Rubber Association of Singapore shall be transferred to the Board and shall thereafter be discharged by the Board. |
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| Transfer of employees of Rubber Association |
| 26B. As from the appointed day, every person employed by the Rubber Association of Singapore immediately before that day shall be transferred to the service of the Board on terms no less favourable than those enjoyed by him immediately prior to his transfer. |
| Termination of membership of Rubber Association |
| 26C. All persons who were members of the Rubber Association of Singapore immediately before the appointed day shall cease to be members of the Association and no suit or other legal proceedings arising from or in connection with such cessation of membership shall lie against the Board. |
| Existing contracts, etc., of Rubber Association |
| 26D. All deeds, bonds, contracts, agreements and instruments subsisting immediately before the appointed day affecting the Rubber Association of Singapore or any employee of the Rubber Association of Singapore transferred to the service of the Board under section 26B shall continue in force on and after that day and shall be enforceable by or against the Board as if, instead of the Rubber Association of Singapore or any person acting on behalf of the Association, the Board had been named therein or had been a party thereto. |
| Pending proceedings of Rubber Association |
| 26E. Any proceedings or cause of action pending or existing immediately before the appointed day by or against the Rubber Association of Singapore or any person acting on its behalf may be continued and shall be enforced by or against the Board. |
| Continuation and completion of disciplinary proceedings |
26F.—(1) Where on the appointed day any disciplinary proceedings were pending against any employee of the Rubber Association of Singapore transferred to the service of the Board, the proceedings shall be carried on and completed by the Board; but where, on that day, any matter was in the course of being heard or investigated or had been heard or investigated by a committee acting under the authority of the Rubber Association of Singapore but no order or decision had been rendered thereon, the committee shall complete the hearing or investigation and make such order, ruling or direction as it could have made under the authority vested in it before the appointed day.| (2) An order, ruling or direction made or given by a committee pursuant to this section shall be treated as an order, ruling or direction of the Board and have the same force or effect as if it had been made or given by the Board pursuant to the authority vested in the Board under this Act. |
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| Misconduct or neglect of duty by employee before transfer from Rubber Association |
| 26G. The Board may reprimand, reduce in rank, retire, dismiss or punish in some other manner any person who had, whilst he was in the employment of the Rubber Association of Singapore, been guilty of any misconduct, omission or neglect of duty which would have rendered him liable to be reprimanded, reduced in rank, retired, dismissed or punished in some other manner by the Rubber Association of Singapore as if this Part had not been enacted. |
| Transfer of Singapore Rubber Fund |
26H.—(1) As from the appointed day, the Singapore Rubber Fund shall be transferred to and administered by the Board.(2) The Singapore Rubber Fund may, subject to directions by the Minister, be used for the following purposes:| (a) | the promotion, development, regulation and maintenance of the commodity trade and industry, including the commodity futures market in Singapore; | | (b) | the payment of all expenses necessary for the participation in international natural rubber organisations and agreements established under these organisations; | | (c) | the discharge of any outstanding liability incurred by the Rubber Association of Singapore and transferred to the Board; | | (d) | for the purposes provided in and generally for carrying into effect the Rubber Industry Act 1992 and for the discharge of any liability arising as a result of the exercise of the function and duties under that Act; and | | (e) | such other purposes as are incidental or conducive to the attainment of the purposes of the Singapore Rubber Fund. |
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| (3) Moneys in the Fund may from time to time be invested in securities and such other investments in which trust funds may, by any written law for the time being in force relating to trustees, be invested. |
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| Transitional and savings provisions |
26I.—(1) Any scheme, contract, document, licence, permission or resolution prepared, made, granted or approved under the Rubber Association of Singapore before the appointed day shall, except as otherwise expressly provided in this Act or in any other written law, continue and be deemed to have been prepared, made, granted or approved by the Board under the corresponding provisions of this Act.| (2) Where anything has been commenced by or on behalf of the Rubber Association of Singapore before the appointed day, such thing may be carried on and completed by or under the authority of the Board. |
| (3) In any written law, any reference to the Rubber Association of Singapore shall be construed as a reference to the Board. |
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26J. In this Part, unless the context otherwise requires —| “appointed day” means the date of commencement of the Trade Development Board (Amendment) Act 1992; |
| “Rubber Association of Singapore” means the Rubber Association of Singapore established under section 3 of the Rubber Association of Singapore (Incorporation) Act (Cap. 278) repealed by the Trade Development (Amendment) Act 1992; |
| “Singapore Rubber Fund” means the Singapore Rubber Fund established under section 14 of the repealed Rubber Association of Singapore (Incorporation) Act.”. |
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