8
Interests in land.
(Cap. 7.)
DEUTSCHE BANK (MERGER) BILL 1988
(2) Without prejudice to the generality of subsection (1)—
(a) any document made or executed on or after the appointed day, whereby Deutsche Bank or DB Asia, whether alone or jointly with any other person, conveys or transfers, or purports to convey or transfer, to any person (whether for consideration or not), or applies to be registered as the holder or proprietor of, any property held by DB Asia immediately before the appointed day, whether. alone or jointly with any other person, shall be sufficient evidence that the interest of DB Asia in that property is deemed to be vested in Deutsche Bank under this Ordinance;
(b) where there is any other transaction or purported transaction by Deutsche Bank or DB Asia on or after the appointed day in connection with, or in relation to, any property or liabilities which are property or liabilities of DB Asia immediately before that day, it shall be deemed in favour of any other party to the transaction, or any person claiming through or under him, that Deutsche Bank has full power and authority for that transaction as if the property or liabilities were deemed to be vested in it under this Ordinance;
(c) a joint certificate given by or on behalf of DB Asia and Deutsche Bank before the appointed day, or a certificate given by or on behalf of Deutsche Bank on or after the appointed day, that any property or liability specified in the certificate (which property or liabilities immediately before the appointed day are property or liabilities of DB Asia) is at the date so specified deemed to be vested in Deutsche Bank under this Ordinance, shall be conclusive evidence for all purposes of the fact so certified;
(d) nothing in paragraphs (b) and (c) affects the liability of DB Asia and Deutsche Bank to the other of them in respect of anything done, or purporting to have been done, by either of them in connection with, or in relation to, any property or liabilities;
(e) in this section "convey" includes mortgage, charge, lease, assent, vest by way of vesting declaration or vesting instrument, disclaim, release or otherwise assure.
12. The deemed vesting in Deutsche Bank of an interest in land by virtue of this Ordinance shall not--
(a) constitute a purchase or creation of that interest for the purposes of section 119E(2) of the Landlord and Tenant (Consolidation) Ordinance; or
(b) constitute an assignment, transfer, devolution, parting with possession dealing with or other disposition of that interest for the purposes of any provision contained in any instrument concerning that interest; or
(c) give rise to any forfeiture; or
(d) invalidate or discharge any contract or security; or
(e) operate so as to merge any leasehold interest in the reversion
expectant on it.
Page 90Page 91