TNAG-0990-FCO40-1209-Allegations-of-bribery-and-corruption-in-Hong-Kong-1980 — Page 78

A142

Ord. No. 31/80

MAINTENANCE ORDERS (RECIPROCAL ENFORCEMENT) (AMENDMENT)

Passed by the Hong Kong Legislative Council this 25th day June

1980.

LORNA LEUNG,

Clerk to the Legislative Council.

This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said bill.

LORNA LEUNG,

Clerk to the Legislative Council.

TRANSFER OF BUSINESSES (PROTECTION OF CREDITORS)

Ord. No. 32/80

A143

HONG KONG

No. 32 of 1980

I assent.

L.S.

MURRAY MACLehose,

Governor.

26 June 1980.

An Ordinance to protect creditors on the transfer of businesses, to provide for the liability of transferees of business, the manner in which such liability may be avoided and for matters incidental thereto and con- nected therewith; and to repeal the Fraudulent Transfers of Businesses Ordinance.

[27 June 1980]

Enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof.

1.

This Ordinance may be cited as the Transfer of Businesses (Pro- Short title. tection of Creditors) Ordinance 1980.

2. (1) In this Ordinance, unless the context otherwise requires-- "appeal" includes a motion for a new trial or to set aside a verdict, finding

or judgment;

"business" means a business, or any part thereof, consisting of a trade or occupation (other than a profession) whether or not it is carried on with a view to profit;

"charge" means—

(a) a debenture within the meaning of the Companies Ordinance; (b) a mortgage;

(c) a bill of sale;

(d) a lien; or

(e) any document,

under or pursuant to which a business or any assets thereof are charged as security for the payment of money or the performance of an obligation, and includes an equitable charge;

"charge-holder" means a person who, under or pursuant to a charge, and for the purpose of enforcing payment of any money or for the per- formance of any obligation, may sell any business;

"date of transfer" means the date on which a transfer takes effect or is

intended to take effect;

"notice of transfer" means a notice of transfer in accordance with section 5; "registered charge" means a charge which is registered under-

(a) the Land Registration Ordinance;

(b) the Companies Ordinance;

(c) the Bills of Sale Ordinance; or

(d) any other enactment;

Interpretation.

(Cap. 32.)

(Cap. 128.)

(Cap. 32.)

(Cap. 20.)