A148
Ord. No. 31/88 CONVEYANCING AND PROPERTY (AMENDMENT)
(Cap. 128.)
(31 of 1988.)
Amendment of section 42.
15.
(a)
Amendment of section 45.
Amendment of section 50.
Amendment of section 53.
Amendment of section 56.
Addition of new section 56A.
(8) A covenant shall not bind a person after he has ceased to have any estate or interest in the land affected by that covenant except in respect of a breach of that covenant committed by him before that cessation.
(9) A covenant in an instrument registered in the Land Office under the Land Registration Ordinance against the land affected by the covenant shall bind the successors in title of the covenantor and the persons deriving title under or through him or them whether or not they had notice of the
covenant.
(10) This section shall apply to covenants whether en- tered into before or after the commencement of the Con- veyancing and Property (Amendment) Ordinance 1988.”.
Section 42 of the principal Ordinance is amended- in subsection (1)—
(i) by deleting "covenant by deed" and substituting the following-
"instrument"; and
(ii) by deleting "the deed” and substituting the following--
"the instrument"; and
(b) in subsection (2), by deleting "deed" from the three places where it
appears and substituting the following-
"instrument".
16. Section 45(3) of the principal Ordinance is amended by inserting, immediately after "tack", the following-
"in relation to land".
17. Section 50(6) of the principal Ordinance is amended by deleting "property" and substituting the following-
"land".
18. Section 53(1) of the principal Ordinance is amended by deleting "A sale of land, under an express or statutory power of sale, by a mortgagee or receiver" and substituting the following-
"Where a mortgagee or receiver sells under an express or statutory power of sale, the assignment".
19. Section 56(1) of the principal Ordinance is amended by inserting, immediately after "discharge", the following-
"and, where applicable, reassignment".
20. The principal Ordinance is amended by adding, immediately after section 56, the following-
"Floating charges.
56A. (1) A floating charge over property (whether or not it purports to restrict the chargor's right to alienate the property) shall not affect any estate or interest in any land, being part of the property, acquired by any other person
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