| To provide for the vesting in First Pacific Bank Limited of the undertaking of Far East Bank, Limited and for other related purposes. (Enacted 1989) [15 December 1989] (Originally 72 of 1989) Cap 1146 Preamble WHEREAS- (1) First Pacific Bank Limited (hereinafter called "First Pacific Bank") is a company incorporated under the laws of Hong Kong having its registered office in Hong Kong and, as a bank licensed under the Banking Ordinance (Cap 155), carries on the business of banking in Hong Kong and elsewhere; (2) Far East Bank, Limited (hereinafter called "Far East Bank") is a company incorporated under the laws of Hong Kong having its registered office in Hong Kong and, as a bank licensed under the Banking Ordinance (Cap 155), carries on the business of banking in Hong Kong; (3) First Pacific Bank is a wholly owned subsidiary of Far East Bank; (4) for the better conduct of the businesses of First Pacific Bank and Far East Bank, it is expedient that their respective undertakings be merged and that such merger should occur by means of a transfer of the undertaking of Far East Bank to First Pacific Bank; and (5) in view of the extent of the contractual and other legal relationships affecting the conduct of the undertaking of Far East Bank, it is expedient that the said undertaking be transferred to First Pacific Bank by this Ordinance. (Enacted 1989) Cap 1146 s 1 Short title This Ordinance may be cited as the First Pacific Bank Limited Ordinance. (Enacted 1989) Cap 1146 s 2 Interpretation (1) In this Ordinance, unless the subject or context otherwise requires- "appointed day" (指定日期) means such day as may be appointed pursuant to section 3; "customer" (客户) means any person having a banking account or other dealing, transaction or arrangement with Far East Bank; "Far East Bank" (远东银行) means Far East Bank, Limited; "First Pacific Bank" (第一太平银行) means First Pacific Bank Limited; "excluded property" (除外财产) means the common seal of Far East Bank, documents (other than accounting records) required to be kept by Far East Bank pursuant to the Companies Ordinance (Cap 32) and the issued shares in the capital of First Pacific Bank beneficially owned by Far East Bank; "existing" (现有) means existing, outstanding or in force immediately before the appointed day; "liabilities" (债务) includes duties and obligations of every description (whether present or future, actual or contingent); "property" (财产) means property and assets of every description and rights of every description (whether present or future, actual or contingent), and includes property held on trust and securities, benefits and powers of every description but does not include the excluded property; "security" (抵押) includes a mortgage or charge (whether legal or equitable and including any sub-mortgage), debenture, bill of exchange, promissory note, guarantee, lien, pledge (whether actual or constructive), hypothecation, assignment by way of security, indemnity, right of set-off, agreement or undertaking (whether in writing or not) or other means (in each case made, granted, arising or subsisting under any applicable law) of securing payment or discharge of a debt or liability (whether present or future, actual or contingent); "undertaking" (业务) means the business and all existing property, other than the excluded property, and liabilities, other than those relating to the excluded property, of Far East Bank of whatsoever nature; "will" (遗嘱) includes a codicil and any other testamentary writing. (2) Any reference in this Ordinance to property or liabilities of Far East Bank is a reference to property or liabilities to which Far East Bank is for the time being entitled or subject (whether beneficially or in any fiduciary capacity), wherever such property or liabilities are situated or arise and whether or not capable of being transferred or assigned by Far East Bank, and whether Far East Bank is entitled to such property or subject to such liabilities under the law of Hong Kong or under the law of any country or territory outside Hong Kong. (3) Any body politic or corporate and any other person or persons whose rights are affected by any of the provisions of this Ordinance shall be deemed to be mentioned herein. (Enacted 1989) Cap 1146 s 3 Appointed day The directors of Far East Bank may appoint a day for the purposes of this Ordinance. Far East Bank and First Pacific Bank shall give joint notice in the Gazette stating the day so appointed save that, in the event that such day proves not to be the appointed day for any reason, Far East Bank and First Pacific Bank shall give joint notice in the Gazette to that effect and shall again give joint notice in the Gazette stating the next day so appointed or, as the case may be, the day which was the appointed day. (Enacted 1989) Cap 1146 s 4 Change of name, reduction of capital and revocation of banking licence (1) On the appointed day, by virtue of this Ordinance- |
