TNAG-0452-FCO40-517-Legislation-for-employment-of-workers-in-Hong-Kong-1974 — Page 213

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(a)

a change occurs (whether by virtue of

a sale or other disposition or by

operation of law) in the ownership

of a business for the purposes of

which a person is employed, or of a

part of such a business; and

(b) in connexion with that change the

person by whom the employee is employed

immediately before the change occurs

(in this section referred to as "the

previous owner") terminates the

employee's contract in accordance

with section 5 or 6.

(2) If, by agreement with the employee,

the person who immediately after the change

occurs is the owner of the business or of the

part of the business in question, as the case may be (in this section referred to as "the new owner") renews the employee's contract

of employment (with the substitution of the new owner for the previous owner) or re-engages

him under a new contract of employment, subsection (2) of section 20E shall have effect

as if the renewal or re-engagement had been a

renewal or re-engagement by the previous ne

owner

(without any substitution of the new owner for

the previous owner).