CAP. 70]
The Hongkong and Shanghai Bank Regulations
[1989 Ed.
[Subsidiary]
regulation called a "statutory notice") given by the bank under section 18 of the Securities (Disclosure of Interests) Ordinance (Cap. 396), then not earlier than 28 days after service of the statutory notice the bank may give to such registered holder a notice in writing (in this regulation called a "disenfranchisement notice") stating that such shares shall with effect from the service of the disenfranchisement notice confer on him no right to attend or vote at, or exercise any other right conferred by membership in relation to, any general meeting or any class meeting. The bank may at any time withdraw a disenfranchisement notice by serving on the registered holder of the shares to which the same relates a notice in writing to that effect (in this regulation called a "withdrawal notice"), and a disenfranchisement notice shall be deemed to have been withdrawn when the statutory notice has been complied with in respect of all the shares to which the disenfranchisement notice related. Unless and until a withdrawal notice is duly served in relation thereto or a disenfranchisement notice in relation thereto is deemed to have been withdrawn or the shares to which a disenfranchisement notice relates are registered in the name of some person other than the registered holder on whom the disenfranchisement notice was served, none of the shares to which disenfranchisement notice relates shall confer on the holder or holders thereof any right to attend or vote at, or exercise any other right conferred by membership in relation to, such general meeting or class meeting as aforesaid. For the purpose of this regulation a person shall be treated as appearing to be interested in any shares if the registered holder of such shares has given to the bank a notification under the said section 18 which either (a) names such person as being so interested or (b) fails to establish the identities of those interested in the shares and if (after taking into account the said notification and any other relevant section 18 notification) the board knows or has reasonable cause to believe that the person in question is or may be interested in the shares. Nothing contained in this regulation shall limit the rights or remedies of the bank under these regulations, the Securities (Disclosure of Interests) Ordinance (Cap. 396) or otherwise.
(L.N. 334 of 1989)
82. When vote by proxy or attorney valid though authority revoked or share transferred
A vote given in accordance with the terms of an instrument of proxy or of a power of attorney shall be valid notwithstanding the previous death of the principal or the revocation of the proxy or power of attorney or the transfer of the share in respect of which the vote is given, provided that no express notice in writing of the death, revocation or transfer has been received by the bank at the head office before the meeting at which such vote is given.