s 29ZD Transfer of property, etc., under special administration order
29ZD.—(1) Without affecting sections 29ZB and 29ZC, a special administration order may provide for the following matters:(a) the transfer to one or more transferees of —(i) where the cruise terminal licensee is not a trustee-manager of a business trust or a trustee of a trust — the property, rights and liabilities of the cruise terminal licensee; (ii) where the cruise terminal licensee is a trustee-manager of a business trust — the trust property of the registered business trust, and the rights held and the liabilities incurred by the trustee-manager in the capacity of trustee-manager of the business trust; or (iii) where the cruise terminal licensee is a trustee of a trust — the trust property of the trust, and the rights held and the liabilities incurred by the trustee in the capacity of trustee of the designated trust, as the case may be; (b) matters that are consequential or related to any such transfer. (2) If the Minister makes a special administration order providing for any matter referred to in subsection (1), the Minister must, within 6 months after the making of the order, by notification in the Gazette, establish a scheme for determining the amount of any compensation payable to the cruise terminal licensee for the transfer of its property, rights and liabilities. (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.[Act 28 of 2022 wef 01/04/2023]