Section 41
Transfer of property
of National Visual Arts Development Board Act 2011
Subject to the provisions of this Act, any land which immediately before the appointed date was vested in the Government of Malaysia in respect of the dissolved Board shall, on that date, by virtue of this Act be vested in the Government of Malaysia in respect of the Board.
(2)
Subject to the provisions of this Act, and to any direction of the Minister, all property and assets, other than land, which
30 Laws of Malaysia ACT 724
immediately before the appointed date were vested in the dissolved
Board shall, on that date, vest in the Board established by this Act.
(3)
It is hereby declared that any property, whether movable or immovable, which, immediately before the appointed date, was used for the purposes which after that date become the purposes of the
Board established by this Act shall, on that date, be vested in the
Board.
Existing contracts