Transfer of property to nominated company

(1) As from the vesting day, the Minister of Finance may by Order transfer to the nominated company, such assets, property, equipment and any other assets of the Authority as appear to him related to the operation and management functions of a privatised port, on payment of such compensation as may be agreed between the Minister of Finance and the nominated company, and such property shall thereupon vest in the nominated company by virtue of such Order and without further assurance. (2) An Order made under subsection (1) of this section may contain such incidental, consequential or supplemental provisions as the said Minister thinks necessary or expedient for the purposes of such Order.