s 25A Interpretation of this Part
25A. In this Part, unless the context otherwise requires —“asset”, in relation to the transferor, means property of any kind (whether tangible or intangible, whether arising from, accruing under, created or evidenced by or the subject of, an instrument or otherwise and whether actual or contingent) of the transferor on the eve of the transfer date and includes, without limitation, any —(a) legal or equitable interest in real or personal property; (b) chose in action; (c) security; (d) money; (e) intellectual property; (f) infrastructure, plant and equipment; (g) records and information (including data) in any form; and (h) right; “Commission” or “Singapore Accountancy Commission” means the Singapore Accountancy Commission established under the Singapore Accountancy Commission Act 2013; “liability”, in relation to the transferor, means any liability, duty or obligation (whether actual or contingent, liquidated or unliquidated, and whether owed alone or jointly, or jointly and severally, with any other person) of the transferor on the eve of the transfer date; “records”, in relation to the transferor, means registers, papers, documents, minutes, receipts, books of account and other records, however compiled, recorded or stored, of the transferor existing on the eve of the transfer date; “right”, in relation to the transferor, means any right, power, privilege or immunity of the transferor on the eve of the transfer date; “transfer date” means a date specified by the Minister by order in the Gazette for the purposes of this Part; “transferor” means the Singapore Accountancy Commission; “transferring employee” means any individual who, on the eve of the transfer date, is an employee of the transferor.[Act 36 of 2022 wef 01/04/2023]