s 27H Transfer of property, etc., under special administration order
27H.—(1) Without limiting sections 27B, 27C and 27D, a special administration order in relation to a relevant entity that is not a licensee may provide for the following matters:(a) the transfer to one or more prescribed transferees (which may or may not be the appointed person) of the following (whichever is applicable):(i) the property, rights and liabilities of the relevant entity; or (ii) in the case of a relevant entity that is a business trust — the property of the business trust, and the rights held and the liabilities incurred by the trustee-manager of the business trust in its capacity as trustee-manager of the business trust; (b) matters that are consequential or related to any such transfer. (2) If the Minister makes a special administration order providing for any matter mentioned in subsection (1), the Minister must, by notification in the Gazette, establish a scheme within the following period for determining the amount of any compensation payable by the prescribed transferee to the relevant entity or the trustee-manager or unitholders of the business trust (as the case may be) for the transfer of the property, rights and liabilities:(a) 6 months after the date of the making of the special administration order; (b) any longer period after the date of the making of the special administration order, as agreed between the prescribed transferee and the relevant entity or trustee-manager. (3) A scheme established under subsection (2) may provide for —(a) the manner in which any compensation or consideration is to be assessed, including methods of calculation, valuation dates and matters to be taken into account or disregarded when making valuations; (b) the assessment to be made by an independent valuer appointed by the Minister; and (c) the remuneration and expenses of the independent valuer. (4) In this section, “prescribed transferee” means the Authority or a person nominated by the Minister.[Act 20 of 2024 wef 01/04/2025]