National University of Singapore (Corporatisation) Bill

Bill No. 35/2005

Read the first time on 17th October 2005.

An Act to provide for the corporatisation of the National University of Singapore and for the transfer of its property, rights and liabilities to a successor company, to provide for certain matters relating to that company, and to repeal the National University of Singapore Act (Chapter 204 of the 2002 Revised Edition).

And Whereas the National University of Singapore was established under the National University of Singapore Act:

And Whereas it is desirable to corporatise the National University of Singapore:

And Whereas a company limited by guarantee will be incorporated under the Companies Act (Cap. 50) by the name “National University of Singapore” having as its objects the operation, maintenance and promotion of a university in Singapore under the name and style “National University of Singapore”:

And Whereas it is desirable that statutory provision be made in relation to the transfer of the property, assets, liabilities and employees of the National University of Singapore to the company, the operation of the company and certain of the powers of the company.

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows:

PART I

PRELIMINARY

Short title and commencement

1. This Act may be cited as the National University of Singapore (Corporatisation) Act 2005 and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.

Interpretation

2.—(1) In this Act, unless the context otherwise requires —

“appointed day” means the date of commencement of this Act;

“Board” means the Board of Trustees of the university company referred to in its constituent documents;

“constituent documents”, in relation to the university company, means the memorandum of association and articles of association of the university company;

“predecessor university” means the National University of Singapore established under the National University of Singapore Act (Cap. 204);

“university company” means the company limited by guarantee incorporated under the Companies Act (Cap. 50) under the name “National University of Singapore”.

(2) For the avoidance of doubt —

(a)

any reference in this Act to property vested in the predecessor university is a reference to such property, whether situated in Singapore or elsewhere; and

(b)

any reference in this Act to rights or liabilities of the predecessor university is a reference to such rights to which the predecessor university is entitled or such liabilities to which the predecessor university is subject, as the case may be, whether under the laws of Singapore or of any country outside Singapore, and includes such rights or liabilities arising under loans raised by the predecessor university.

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