by virtue of subsection (2) and for this
purpose, such cessation shall be regarded as the
repeal of subsection (1) by subsection (2).".
4.
Determination of rights to require
the issue of shares, to nominate directors or to exercise control
Section 5 is amended
(a)
by renumbering it as section 5(1);
(b)
in subsection (1) by adding ", subject to subsection
(2),
" before "cease"; and
(c)
by adding
"(2)
(a)
Subsection (1)
does not apply to any right
acquired, derived or subsisting
under or by virtue of an
agreement dated 31 July 1993
between the Financial Secretary
Incorporated and Guoco Group
Limited for the sale and purchase
of the shares in the capital of
the company;
(b)
shall cease to have effect on the
(3)
commencement of the Overseas
Trust Bank (Acquisition)
(Amendment) Ordinance 1993 ( of
1993).
Section 23 of the Interpretation and
General Clauses Ordinance (Cap. 1) applies to
the cessation to have effect of subsection (1)