s 58 Interpretation of this Part
58. In this Part, unless the context otherwise requires —“asset”, in relation to a 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, whether situated in Singapore or elsewhere; (b) chose in action; (c) money or securities; (d) plant and equipment, whether situated in Singapore or elsewhere; (e) intellectual property; (f) infrastructure, whether situated in Singapore or elsewhere; (g) records; and (h) right; “fair trading functions” means the following functions of the Standards, Productivity and Innovation Board:(a) promoting fair trading among suppliers and consumers and enabling consumers to make informed purchasing decisions in Singapore; (b) preventing suppliers in Singapore from engaging in unfair trading practices; (c) advising the Government, any public authority or any consumer protection organisation on fair trading matters generally; (d) administering and enforcing the Consumer Protection (Fair Trading) Act 2003; “liability”, in relation to a transferor, means any liability, duty or obligation (whether actual or contingent, liquidated or unliquidated, and whether owed alone or jointly and severally with any other person) of the transferor on the eve of the transfer date, whether under the laws of Singapore or any country or territory outside Singapore; “records”, in relation to a transferor, means registers, papers, documents, minutes, receipts, books of account and other records, however compiled, recorded or stored, of that transferor existing on the eve of the transfer date; “right”, in relation to a transferor, means any right, power, privilege or immunity of the transferor on the eve of the transfer date, whether under the laws of Singapore or any country or territory outside Singapore; “transfer date” means 1 April 2018; “transferor” means —(a) the International Enterprise Singapore Board; or (b) the Standards, Productivity and Innovation Board; “transferring employee”, in relation to the Standards, Productivity and Innovation Board, means every employee of that Board, except the employees in the Consumer Protection Weights & Measures Division who perform solely or mainly the fair trading functions.