CAP. 345]
Hang Lung Bank (Acquisition)
[1989 Ed.
(3) Without prejudice to subsection (2) the person concerned with the keeping of the company's register of members shall forthwith register the Financial Secretary Incorporated therein and the company shall forthwith issue to the Financial Secretary Incorporated the appropriate documents of title relating to the company's shares which vest in the Financial Secretary Incorporated by virtue of this section.
(Amended L.N. 180 of 1985)
4.
Continued use of property etc.
Where immediately before commencement any property, facility or service not being the property of or provided by the company or any subsidiary thereof, was being used, enjoyed or employed by the company or any of its subsidiaries in the carrying on of its business, the company and its subsidiaries shall continue to have the right to use, enjoy or employ such property, facility or service upon the same terms and conditions, subject to section 6(3), as were applicable before commencement.
5.
Determination of rights to require the issue of shares,
to nominate directors or to exercise control
(1) If, after commencement, a person other than the Financial Secretary Incorporated would, apart from this Ordinance, have (Amended L.N. 180 of 1985)
(a) a right to require the issue of, or to subscribe for or purchase, or otherwise acquire, any shares in the capital of the company or any subsidiary thereof;
(b) a right to appoint any person, or to be appointed as a director of
the company or any subsidiary thereof;
(c) a right, whether express or implied, to exercise, whether wholly or in part, any power of control or direction of the company, its management or assets or undertaking, or any subsidiary,
that right shall cease.
(2) Where the right referred to in subsection (1) was conferred on a person as an incident of
(a) an agreement conferring other rights on that person; or
(b) the holding of any securities of the company, or any subsidiary
thereof,
nothing in subsection (1) shall affect the continued existence of any other rights or liabilities under that agreement or, as the case may be, under the terms upon which the securities were held.