DEN NORSKE BANK BILL 1990
A BILL
ΤΟ
Provide for facilitating the vesting in Den Norske Bank AS of the undertaking of Den norske Creditbank and for other related purposes.
Preamble
T
WHEREAS
(1)
(2)
(3)
(4)
(5)
(6)
Bergen Bank A/S (hereinafter called "Bergen Bank") is a company organised under the law of Norway having its registered place of business in Bergen;
Den norske Creditbank (hereinafter called "DnC") is a company organised under the law of Norway having its registered place of business in Oslo;
DnC is a bank licensed under the Banking Ordinance (Cap. 155) and carries on the business of banking in Hong Kong and elsewhere;
Bergen Bank carries on the business of banking in Norway and elsewhere;
For the better conduct of the businesses of Bergen Bank and DnC, it is expedient that provision be made for the merger of undertakings by which their respective businesses are carried on by merging into Bergen Bank the undertaking of DnC and that that merger of undertakings should be facilitated without interference with the conduct and continuity of the respective businesses of Bergen Bank and DnC!
Such merger is to be carried out in accordance with the provisions of the Commercial Bank Act of Norway of 24th May 1961 and the provisions of chapter 14 of the Joint-Stock Companies Act of Norway of 4th June 1976 and pursuant thereto, a merger agreement was executed on 23rd October 1989 by the Boards of Directors of Bergen Bank and DnC respectively and sanctioned by resolutions passed on 1st November 1989 by the Supervisory Boards of Bergen Bank and DnC respectively and on 28th November 1989 by Extraordinary General Meetings of the shareholders of Bergen Bank and DnC respectively;
- 1 -