Vesting of Property (Acquisition by Purchase) Act (Cap. 62:08).
An Act to provide for the transfer and vesting of property purchased by the Government on behalf of the State.
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LEX-FAOC009867
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The Minister may, by Order, direct that the provisions of this Act shall apply to an agreement of purchase of property by the Government ("vesting order") (sect. 3). All assets and liabilities of the vendor acquired by the State under the purchase agreement shall, without further assurance, be transferred and vested in the State on the coming into operation of the vesting order (subsect. 4.1). Subsections (2), (3), and (4) of section 4 provide for the transfer of all contracts, deeds, bonds, agreements and other instruments related to the assets and liabilities being covered by the purchase agreement and the continuation of all legal proceedings in respect of rights, assets or liabilities of the vendor after transfer. (6 sections)
