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3.
Appointed day
MEFIL and Emirates Bank
Gazette
event
MEFIL
shall give joint notice in the stating the day appointed as the appointed day save that, in the that such day proves not to be the appointed day for any reason, and Emirates Bank shall give joint notice in the Gazette to that effect and shall again give joint notice in the Gazette stating the next day so appointed or, as the case may be, the day which was the appointed day.
4.
Revocation of registration as a deposit-taking company
accordance
On the appointed day, by virtue of this Ordinance, the registration of MEFIL as a deposit-taking company shall, in with this section, be revoked.
5.
(1) On the appointed day the
Vesting of the undertaking in Emirates Bank
undertaking shall, by virtue of this Ordinance and without further act or deed, be transferred to, and vest in, Emirates Bank to the intent that Emirates Bank shall succeed to the whole undertaking.
is
(2) Where the vesting of any property situate in any country or territory outside Hong Kong and forming part of the undertaking governed otherwise than by the law of Hong Kong, MEFIL shall, if Emirates Bank so requires, so soon as is practicable after the appointed day, take all necessary steps for securing the effective vesting thereof in Emirates Bank and, pending such vesting, MEFIL
shall hold any such
property in trust for Emirates Bank.
6.
Trust property and wills
(1) Any property vested in Emirates Bank by virtue of this Ordinance which immediately before the appointed day was held by MEFIL, whether alone or jointly with any other person, as trustee or custodian trustee of any trust deed, settlement, covenant, agreement, will, or other instrument (whether originally so appointed or not, and whether appointed under hand or seal, or by order of any court), or as executor of the will, or administrator of the estate, of a deceased person or as judicial trustee appointed by order
of any court, or in any other fiduciary capacity, shall, on and from the appointed day, be held by Emirates Bank alone or, as the case may be, jointly with such other person, in the same capacity upon the trusts, and with and subject to the powers, provisions and liabilities, applicable thereto respectively.
(2) Any existing instrument or order of any court under or by virtue of which any property became vested in MEFIL, in any such fiduciary capacity as is referred to in subsection (1) (including in the case of a will any grant of probate thereof), and any provision in such instrument or order, or any existing contract or arrangement, for the payment to, or retention by, MEFIL of remuneration for its services any such fiduciary capacity, shall, on and from the appointed day, construed and have effect, so far as the context permits, as if for
in
be
any