(b)
2
CONFIDENTIAL
8
acquisition of the banking business of BCCHK, and
precise details of the conditional Heads of
Agreement are confidential to the two parties
concerned.
There are a number of pre-conditions which will
have to be satisfied before the scheme can be implemented,
including the following
(1)
The completion of a banking, accounting and legal
due diligence review satisfactory to HKCB.
(2)
Finalisation of the terms and conditions of all
contractual documentation necessary to give legal
affect to the scheme and thereafter final approval
of the Court to the scheme.
(3) HKCB obtaining all necessary consents and approvals
from the relevant regulatory authorities, including
the Commissioner of Banking.
(4)
HKCB obtaining agreement from large depositors
to deferral and/or conversion of deposits on
appropriate terms in an aggregate amount and
for a period satisfactory to HKCB, the Commissioner
of Banking and myself as Provisional Liquidator.
60'd
0290 698 258+
1d30 3.89N3S JEVISION
TF:LI