UN
WEDNESDAY, NOVEMBER 15, 1989
IN THE CRITICISM9
WHICH
REFERENCE TO A SUGGESTED CIRCULARITY.
HAD BEEN
LEVELLED THERE WAS THEN
WHETHER THE CONVENTION BUT THAT THE WHETHER
IS THAT
"I GATHER THAT THE ARGUMENT APPLIES DEPENDS UPON IDENTIFICATION OF THE PROPER LAW, PROPER LAW CANNOT BE DETERMINED UNTIL IT HAS BEEN ASCERTAINED THE CONVENTION APPLIES.
"THE
OF SCHEME
A
THE CONVENTION 18
ΤΟ FIRST TRUST. IF ESSENTIAL ELEMENTS OF
THESE PREVAIL. THE CONVENTION FOR DETERMINING THE APPLIES. ONCE THE CONVENTION APPLIES, THE RULES PROPER LAW ARE THOSE SET OUT. HE SAID,
IDENTIFY
THE
CONSIDERED BY THE BAR MR STOCK SAID THE CONVENTION HAD BEEN
WERE ASSOCIATION, THE LAW SOCIETY, THE HONGKONG BANK TRUSTEE, AND ALL
NONE OF THESE BODIES HAD IN FAVOUR OF ITS EXTENSION TO HONG KONG. VOICED THE CONCERNS EXPRESSED TODAY.
IY LARGELY HE ADDED: "I SHOULD ALSO REPEAT THAT THE BILL THE SAME TERMS AS ENGLAND'S RECOGNITION OF TRUSTS ACT 1987.
IN
OF
'THE
"AGAIN WHEN MOVING IN THE HOUSE OF LORDS THE SECOND READING THE BILL FOR THIS ACT, THE LORD CHANCELLOR OF THE DAY SAID THIS:
THUS
BE OF
LAW PRINCIPALLY
BENEFIT TO COMMON CONVENTION WILL
FURTHER ON: 'THE COUNTRIES SUCH AS ENGLAND AND WALES', AND A LITTLE
EXISTING LAW IN BILL WILL INVOLVE LITTLE CHANGE TO THE SUBSTANCE OF
SERVE ΤΟ CLARIFY A NUMBER THE UNITED KINGDOM, IT WILL HOWEVER ISSUES WHERE OUR EXISTING LAW HAS NOT YET BEEN FULLY DEVELOPED'.
OF
TIME FOR BUSINESS COMMUNITY TO STUDY NEW LAW
IN THE THE CONTROL OF EXEMPTION ENACTED. COME INTO EFFECT UNTIL
NOT, IF
THE ACTING ATTORNEY GENERAL. THE HON FRANK STOCK. SAID LEGISLATIVE COUNCIL TODAY I WEDNESDAY) CLAUSES BILL 1989 WOULD DECEMBER 1 NEXT YEAR.
THIS
SPEAKING IN THE RESUMED DEBATE ON THE BILL. MR STOCK SAID
THR LEGISLATION WOULD ALLOW TIME FOR THE BUSINESS COMMUNITY TO STUDY AND TO AMEND THE CONTRACTUAL DOCUMENTS THEY USED IN THEIR DEALINGS.
DESIRE то
AND HE
HE SAID HE APPRECIATED THE
ENSURE THAT CONSUMERS
WERE GIVEN
PROTECTION SUFFICIENT
THE UNDERSTOOD
CONCERN8 EXPRESSED BY DR THE HON HENRIETTA IP IN RELATION TO THE ABSENCE OF DEFINITION OF THE TERM "SECURITIES”.
A
"HOWEVER.
'SECURITIES'
IN
CLOSE
THE
BILL
CONSIDERATION OF
REVEALED
THE
OF MERITS POTENTIAL DIFFICULTIES
DEFINING
IN
ATTEMPTING TO DO SO,
/"ONE PROBLEM