A78
Ord. No. 16/77
Repeal. (17 of 1976.)
Transfer of assets and liabilities.
Other transitional provisions.
Amendment of
Prevention of Bribery Ordinance. (Cap. 201.)
HONG KONG INDUSTRIAL ESTATES
CORPORATION
PART VII
REPEAL AND TransitionaL
40. The Hong Kong Industrial Estates Provisional Authority Ordin- ance 1976 is repealed.
41. (1) All property of whatever kind and whether movable or immovable vested in or belonging to the Provisional Authority immediately before the commencement date of this Ordinance is as from such date transferred to and vested in the same interest in the Corporation without any further assurance and the Corporation shall have all powers necessary to take possession of, recover and obtain the benefit of such property.
(2) All obligations and liabilities of the Provisional Authority immediately before the commencement date of this Ordinance are as from such date the obligations and liabilities of the Corporation and the Corporation shall have all necessary powers to discharge the same. (3) No stamp duty shall be payable in respect of any transfer of property under this section.
42. (1) Without limiting the generality of section 41, every agree- ment, whether in writing or not, to which the Provisional Authority was a party immediately before the commencement date of this Ordinance and whether or not of such a nature that the rights and liabilities there- under could be assigned shall have effect as from such date as if— (a) the Corporation had been party to such agreement; and (b) for any reference, however worded and whether express or implied, to the Provisional Authority there were substituted in respect of anything to be done or omitted on or after the commencement date of this Ordinance a reference to the Cor- poration.
(2) Subsection (1)(b) shall also apply to any document, not being an agreement, having therein references to the Provisional Authority.
(3) The appointment of any employee of the Provisional Authority subsisting immediately before the commencement date of this Ordinance shall be deemed to be made by the Corporation under this Ordinance and for the purpose of determining the right to pension, gratuity or other benefits of such employee on the cessation of his service, there shall be no break in the continuity thereof by reason only of the repeal effected by section 40.
(4) Where anything has been commenced by or under the authority of the Provisional Authority before the commencement date of this Ordinance such thing may be carried on any completed by, or under the authority of, the Corporation.
43. The Schedule to the Prevention of Bribery Ordinance is amended, in item 38, by deleting "Provisional Authority" and substituting the following-
"Corporation".
Passed by the Hong Kong Legislative Council this 16th day of February, 1977.
L. TSE,
Clerk to the Legislative Council.
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