System clock is not updating from external RTC on Ixora/Apalis TK1

I have set up the external RTC as per instructions.
As the system comes up with no net connection initially (takes time for the mobile modem to connect), I would expect the system clock to get set from RTC as documented (by systemd.timedatectl), but it does not:

ubuntu@tegra-ubuntu:~$ date
Sat Jan  1 02:12:44 IST 2000
ubuntu@tegra-ubuntu:~$ sudo timedatectl 
[sudo] password for ubuntu: 
Local time: Sat 2000-01-01 02:12:50 IST
Universal time: Sat 2000-01-01 00:12:50 UTC
    RTC time: Thu 2017-12-21 15:02:18
    Timezone: Asia/Jerusalem (IST, +0200)
 NTP enabled: yes
NTP synchronized: yes
 RTC in local TZ: no
  DST active: no
 Last DST change: DST ended at
              Fri 1999-09-03 01:59:59 IDT
              Fri 1999-09-03 01:00:00 IST
 Next DST change: DST begins (the clock jumps one hour forward) at
              Fri 2000-04-14 01:59:59 IST
              Fri 2000-04-14 03:00:00 IDT
ubuntu@tegra-ubuntu:~$ dmesg | grep -i rtc
[    0.516409] +V1.05_RTC: 1000 mV at 150 mA 
[    4.673638] as3722-rtc as3722-rtc.1: rtc core: registered as3722 as rtc0
[    4.673647] as3722-rtc as3722-rtc.1: RTC interrupt 449
[    4.748028] rtc-ds1307 0-0068: rtc core: registered m41t0 as rtc1
[    4.748499] tegra_rtc tegra_rtc: rtc core: registered tegra_rtc as rtc2
[    4.748536] tegra_rtc tegra_rtc: Tegra internal Real Time Clock
[    7.668157] as3722-rtc as3722-rtc.1: setting system clock to 2000-01-01 00:10:01 UTC (946685401)
ubuntu@tegra-ubuntu:~$ cat /etc/udev/rules.d/99-rtc1.rules
KERNEL=="rtc1", SUBSYSTEM=="rtc", DRIVER=="", ATTR{name}=="m41t0", SYMLINK="rtc", MODE="0666"
ubuntu@tegra-ubuntu:~$ 

How can I get the system date to update from the RTC at start up?

How can I get the system date to update from the RTC at start up?

Good question as in our Ångström/OpenEmbedded/Yocto Project based BSPs this would of course be taken care of by systemd-timesyncd. How exactly Ubuntu (assuming that is what you are using) is doing this I do not know but your friendly Google might.