s 7 Transfer of reserves of SES, SIMEX and SCCS
7.—(1) The assets of SES, SIMEX and SCCS, respectively, certified under subsection (2) are to be transferred to the transferee holding company on such date or dates as the Minister may determine. (2) For the purposes of subsection (1), the Minister must on the transfer date and from time to time certify, by notification in the Gazette, the description and value of the assets to be transferred to the transferee holding company on such date or dates as the Minister may determine. (3) For the purposes of this section, “assets” means property and assets of every description (whether present or future, actual or contingent) wheresoever situate, and includes property held on trust and securities, rights, benefits, powers and liabilities of every description.