(c)
(d)
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 or affecting that interest; or
operate as a breach of covenant or condition against alienation; or
(e) give rise of any forfeiture, damages or other right of
action; or
(f)
invalidate or discharge any contract or security.
Saving for enactments concerning banking institutions
16. Nothing in this Ordinance shall exempt Dao Heng Bank or Hang Lung Bank or any other subsidiary of Dao Heng Bank from the provisions of any enactment regulating the carrying on of the business of any of them.
Saving for companies
17.
Nothing in this Ordinance shall prejudice the powers of Hang Lung Bank to alter its articles and memorandum of association or to dispose of, or deal with, its property, security or liabilities or to carry on or discontinue any part of its business; and nothing in this Ordinance shall prejudice the powers of Dao Heng Bank to dispose of, or deal with, its property, security or liabilities before the appointed day.
Saving
18.
Costs
19.
Nothing in this Ordinance shall affect or be deemed to affect the rights of Her Majesty the Queen, Her Heirs or Successors, or the rights of any body politic or corporate or of any other persons except such as are mentioned in this Ordinance and those claiming by, from or under them.
The costs, charges and expenses preliminary to, and of and incidental to, the preparing for, obtaining and passing of this Ordinance, or otherwise in relation thereto, shall be paid by Hang Lung Bank.
1.
Explanatory Memorandum
The purpose of this Bill is to transfer the undertaking of Dao Heng Bank Limited to Hang Lung Bank, Limited and to repeal certain provisions of the Hang Lung Bank (Acquisition) Ordinance which are no longer applicable. Both Dao Heng Bank Limited and
- 13-