4
CAP. 345]
Hang Lung Bank (Acquisition)
[1983 Ed.
Compensation.
LN (80/95
Power to make regulations.
(Cap. 32.) (Cap. 155.) (Cap. 328.)
27 of 186, 5.149.
(6) No fee, or reward, financial or otherwise, shall be paid by the company to any director appointed under this section who is a public officer.
(7) Notwithstanding his removal from office by subsection (1) every former director shall remain liable for all his acts and omissions in respect of the period while he was a director.
8. (1) The registered holders of shares in the capital of the, company immediately before the vesting thereof in the Colontar Treasurer Incorporated by section 3(1) shall, subject to any regula- tions under subsection (3), be entitled to compensation in respect of those shares.
(2) Any person who suffers loss by reason of the operation of section 4, the cessation of any right under section 5(1) or the disclaimer of a transaction under section 6(3) shall, subject to any regulations under section 9 read with subsection (3), be entitled to compensation in respect of such loss.
(3) The following matters may be prescribed-
(a) the manner of determining the amount of compensation
payable under subsections (1) and (2);
(b) the factors to be taken into account or disregarded, and the principles to be applied in determining such amount;
(c) the time and manner of payment of such compensation;
(d) whether and what interest shall be payable in respect of
such compensation;
(e) the denial of compensation under subsections (1) and (2) to any former director who has engaged in any transaction which could be disclaimed under section 6(3) if it were in whole or in part unperformed or unexpired;
(f) any matter incidental to the matters specified in subsection
(1) or (2) or paragraphs (a) to (e).
9. (1) The Governor in Council may make regulations— (a) prescribing anything that may be prescribed under this
Ordinance;
(b) providing for the management, control and operations of
the company and its subsidiaries; and
(c) providing for the better carrying into effect of the purposes
and provisions of this Ordinance.
(2) Regulations under subsection (1) may make provision for the matters mentioned in that subsection and shall have effect notwithstanding anything to the contrary in the Companies Ordinance, the Banking Ordinance, the Deposit-taking Companies- Ordinance, and the memorandum and articles of association of the company or any subsidiary thereof.