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ATTORNEY GENERALS CHAMBERS
042 P05
PN862
S. NO. 6 TO GAZETTE NO. 8/1988
accepted or endorsed before, on or after the appointed day, shall have the same effect on and from the appointed day, as if it had been drawn on, or given to, or accepted or endorsed by Deutsche Bank, or were payable at the same place of business of Deutsche Bank.
(A) The custody of any document or record, goods or other thing held by DB Asia as bailee shall pass to Deutsche Bank on the appointed day, and the rights and obligations of DB Asia under any contract of bailment relating to any such document or record, goods or thing shall on that day become rights and obligations of Deutsche Bank.
(g)
Any security held immediately before the appointed day by DB Asia, or by a nominee or agent of or trustee for DB Asia, as security for the payment or discharge of any liability shall, on and from the appointed day, be held by, or, as the case may require, by that nominee, agent or trustee for, Deutsche Bank, and be avail- able to Deutsche Bank (whether for its own benefit or, as the case may be, for the benefit of any other person) as security for the payment or discharge of that liability;
(ii) in relation to any security vested in Deutsche Bank in accordance with the provisions of this Ordinance and any liabili- ties thereby secured, Deutsche Bank shall be entitled to the rights and priorities and be subject to the obligations and incidents to which DB Asia would have been entitled and subject if it had continued to hold the security:
(iii) without prejudice to the generality of sub-paragraph (ii), in any case where any existing liability subsists between DB Asia and Deutsche Bank in respect of which DB Asia or Deutsche Bank, or a nominee or agent of or trustee for DB Asia or Deutsche Bank holds security, that liability shall, for the purpose of enforcing or realising that security, be deemed to continue in effect notwith- standing the vesting in Deutsche Bank of the undertaking.
(iv) any security referred to in sub-paragraph (i), (ii) or (iii) and which extends to future advances or liabilities shall, on and from the appointed day, be available to Deutsche Bank (whether for its own benefit or, as the case may be, for the benefit of any other person) as security for the payment or discharge of future advances and future liabilities to the same extent and in the same manner in all respects as future advances by, or liabilities to, DB Asia or, as the case may be, Deutsche Bank were secured thereby immediately before that day.
(h) Where by virtue of this Ordinance any right or liability of DB Asia is deemed to become a right or liability of Deutsche Bank, Deutsche Bank and all other persons shall, on and from the appointed day, have the same rights, powers and remedies (and in particular the same rights and powers as to taking or resisting legal proceedings or making or resisting applications to any authority) fot ascertaining, perfecting or enforcing that right or liability as if it had at all times been a right or liability of Deutsche Bank; and any legal proceedings or application to any authority existing or pending immediately before the appointed day by or against DB Asia
may be continued by or against Deutsche Bank.
S. NO. 6 TO GAZETTE NO BUR
(1) Any judgement or award obtained by or against Asia and not fully satisfied before the appointed day shall on at day, to the extent to which it is enforceable by or against D Asia, become enforceable by or against Deutsche Bank.
7.
PN863
(1) Section 6(a) shall apply to a contract for themployment of Contracts of any person by DB Asia; and employment with DB Asia and Deutsche Bank employment. under any such contract shall be deemed for all purpose to be a single continuing employment.
(2) No director or auditor of DB Asia shall by virte only of this Ordinance become a director or, as the case may be, audio of Deutsche Bank.
8. (1) The trust deeds and rules constituting or relang to the fund. Pensions. scheme established in Hong Kong and known as the Deutsne Bank (Asia) Aktiengesellschaft Hong Kong Branch Local Staff Provider Fund Scheme shall, on and from the appointed day, be construed and haveffect, so far as the context permits, as if for any reference therein to DB.sia there were substituted a reference to Deutsche Bank.
(2) No officer or employee of DB Asia who becoms an officer or employee of Deutsche Bank by virtue of this Ordinance shll by virtue of this Ordinance be entitled to participate in any pension fud of Deutsche Bank, and no existing officer or employee of Deutsche Banishall, by virtue of this Ordinance, be entitled to participate in any pension Ind of DB Asia or the Deutsche Bank (Asia) Aktiengesellschaft Hong Kon Branch Local Staff Provident Fund Scheme.
9. (1) All books and other documents which wold, before the Evidence: appointed day, have been evidence in respect of any matte for or against books and Dǹ Asia shall be admissible in evidence in respect of the same matter for or against Deutsche Bank.
(2) In this section "documents" has the same meanings in section 55 of the Evidence Ordinance.
documents.
(Cap. A
10. (1) On and from the appointed day Part III the Evidence Part II of Ordinance shall apply to the banker's records of DB Asi deemed to be Evidence vested in Deutsche Bank by virtue of this Ordinance, and tentries made in Ordinance. these records before the appointed day, as if such records ere the records (Cap 8.1
of Deutsche Bank.
(2) For the purposes of section 20 of the Evidence Odinance, bank- er's records which are deemed to have become the bantr's records of Deutsche Bank by virtue of this Ordinance shall be deemed have been the ordinary banker's records of Deutsche Bank at the time othe making of any entry therein which purports to have been made befor the appointed day, and any such entry shall be deemed to have been made the usual and ordinary course of business.
(3) In this section "banker's records" shall be construd in accordance with section 2 of the Evidence Ordinance.
11. (1) The production of a Government Printer copy of this Evidence of Ordinance shall, for all purposes, be conclusive evidence the vesting of vesting. any property and liabilities of DB Asia in Deutsche Ban' in accordance with the provisions of this Ordinance.