1985 Ed.]
Trustee
[CAP. 29
57
19. Any securities issued by companies incorporated in Hong Kong which satisfy the following conditions-
(a) the issued and paid up share capital of the company is not less than HK$100,000,000 or its equivalent at the date the investment is made: (Amended, L.N. 28/84)
(b) the securities, in the case of shares or debenture stock, in which a trustee seeks to invest are fully paid up:
(c) at the date the investment is made the securities are listed on a stock exchange approved or deemed to have been approved under the Securities Ordinance; and (Replaced, 23 of 1975, s. 7)
(d) the company has in each of the 5 years immediately preceding the calendar year in which the investment is made paid a dividend wholly in cash (except to the extent that the shareholders have opted to accept it other than wholly in cash) on all the shares issued by the company, excluding any shares issued after the dividend was declared and any shares which by their terms of issue did not rank for the dividend for that year. (Amended, L.N. 28/84)
For the purposes of sub-paragraph (d) a company formed--
(i) to take over the business of another company or other companies; or
(ii) to acquire the securities of, or control of, another company or other companies,
or for either of those purposes and for other purposes shall be deemed to have paid a dividend as mentioned in that sub-paragraph in any year in which such a dividend has been paid by the other company or all the other companies, as the case may be.
20. Any securities issued by the Hong Kong Building and Loan Agency Limited, the payment of which is guaranteed by the Government.
21. Any securities issued by the Mass Transit Railway Corporation which are either charged on the property, undertaking and revenue of the Corporation, or any part thereof, or guaranteed by the Government. (Added, 36 of 1975, s. 31)
22. (1) Any deposit with a licensed deposit-taking company in Hong Kong.
(2) "Deposit" and "licensed deposit-taking company" have the same meanings as in the Deposit-taking Companies Ordinance. (Added, L.N. 28/84)
Banking Ordinance
23. (1) Any certificate of deposit issued by a licensed bank or licensed deposit-taking company in Hong Kong.
(2) "Certificate of deposit", "licensed bank" and "licensed deposit-taking company" have the same meanings as in the Deposit-taking Companies Ordinance. (Added, L.N. 28/84)
Banking Ordinance
24. (1) Any units or other rights and interests issued under a unit trust situated in Hong Kong and authorized by the Securities Commission.
(2) "Unit trust" has the same meaning as in the Securities Ordinance. (Added, L.N. 28/84)
(Second Schedule added, 48 of 1968, s. 7)
(Cap. 333)
(Cap. 328)
27819865137
(Cap. 328)
#o of 1989565
(Cap. 333)