CAP. 1136]
Standard Chartered Asia Limited
[1984 Ed.
(b) sub-paragraphs (ii) and (iii) of paragraph (a) shall apply to any statutory provision and to any provision of any existing contract to which MBFEL was not a party and sub-paragraphs (i), (ii) and (iii) of that paragraph shall apply to any provision of any other existing document (not being a contract) in the same manner as, in any such case, they apply to a contract to which paragraph (a) applies;
(c) any account between MBFEL and a customer shall, on and from the appointed day, become an account between SC Asia and the customer subject to the same conditions and incidents as theretofore; and such account shall be deemed for all purposes to be a single continuing account:
Provided that nothing herein shall affect any right of SC Asia or of the customer to vary the conditions or incidents subject to which any account is kept; (d) any existing instruction, order, direction, mandate, power of attorney, authority, undertaking or consent given to MBFEL (whether in writing or not and whether or not in relation to an account) shall have effect, on and from the appointed day, as if given to SC Asia;
(e) any negotiable instrument or order for payment of money drawn on, or given to, or accepted or endorsed by MBFEL, or payable at any place of business of MBFEL, whether so drawn, given, accepted or endorsed before, on or after the appointed day, shall have the same effect on and from the appointed day, as if it had been drawn on, or given to, or accepted or endorsed by SC Asia or were payable at the same place of business of SC Asia;
(f) the custody of any document, goods or other thing held by MBFEL as bailee shall pass to SC Asia on the appointed day, and the rights and obligations of MBFEL under any contract of bailment relating to any such document, goods or thing shall on the appointed day become rights and obligations of SC Asia;
(g) any security held immediately before the appointed day by, or by a nominee of, or trustee for, MBFEL as security for the payment or discharge of any debt or liability (whether existing or future, actual or contingent) shall, on and from the appointed day, be held by, or (as the case may require) by that nominee or trustee as nominee or trustee for, SC Asia and to the extent of that debt or liability be available to SC Asia, as security for the payment or discharge of that debt or liability, and any such security which extends to future advances or liabilities shall, on and from the appointed day, be held by, and be available as aforesaid to, SC Asia as security for future advances by, and future liabilities to, SC Asia in the same manner in all respects as future advances by or liabilities to MBFEL were secured thereby immediately before that day;
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