HONG KONG
LEGAL REPORT
RAINIER INTERNATIONAL BANK (TRANSFER OF HONG KONG UNDERTAKING) ORDINANCE 1988
(No. 60 of 1988)
Enclosure No. 2
The purpose of this Ordinance is to transfer the Hong Kong undertaking of Rainier International Bank (a bank organized under the laws of the U.S.A.) to the Daiwa Bank, Limited (a bank organized under the laws of Japan). Both banks are licensed under the Banking Ordinance. The Bill of the Ordinance was introduced as a private Bill following consultation with the Secretary of State.
2. Section 4 provides that the transfer will take effect as from an appointed day. Other sections provide (inter alia) for the effect of the vesting in relation to trusts and wills (section 5), the relationship with customers, borrowers, employees and other third parties (sections 6 and 7) and evidence (sections 8 to 10).
3. Before the Governor assented to the Bill in the name and on behalf of Her Majesty, the Attorney General advised that he could properly do so.
и
Juny 1
Law Draftsman.
جلسته
لا
July 1988.
ATTORNEY GENERAL'S CHAMBERS,
HONG KONG.
Page 60Page 61
Ref. C 191/76
Enclosure No. 1