CAP. 1137]
Lloyds Bank (Merger)
[1985 Ed.
Originally 43 of 1985.
CHAPTER 1137
LLOYDS BANK (MERGER)
To provide for the vesting in Lloyds Bank Plc of the undertaking of Lloyds Bank International Limited; and for other related purposes.
[12 July 1985.]
Preamble.
(1862 c. 89.)
(1967 c. 81.)
(Cap. 155.)
(1985 c. ix)
Short title.
Interpretation.
WHEREAS
(1) Lloyds Bank Plc (hereinafter called “Lloyds") is a public company incorporated under the Companies Act 1862 as a company limited by shares;
(2) Lloyds Bank International Limited (hereinafter called "LBI") is a private company incorporated under the Companies Acts 1948 to 1967 (as defined in the Companies Act 1967) as a company limited by shares under the name of Lloyds & Bolsa International Bank Limited and is a wholly-owned subsidiary of Lloyds;
(3) LBI is a bank licensed under the Banking Ordinance and carries on the business of banking in Hong Kong and elsewhere;
(4) Lloyds carries on the business of banking in the United Kingdom and elsewhere;
(5) for the better conduct of the business of the Lloyds group of companies, it is expedient that provision be made for the fusion of undertakings by which that business is carried on by vesting in Lloyds the undertaking of LBI and that that fusion of undertakings should be effected without interference with the conduct and continuity of that business;
(6) The Lloyds Bank (Merger) Act 1985 makes provision for such fusion;
(7) it is expedient that provision be made for the effecting of such fusion in Hong Kong:
1. This Ordinance may be cited as the Lloyds Bank (Merger) Ordinance.
2. (1) In this Ordinance, unless the subject or context otherwise requires-
"appointed day" means-
(a) the day appointed for the general purposes of the UK Act under section 3 thereof; or
(b) in relation to any part of the undertaking, the day appointed under section 3 of the UK Act for that part;