TNAG-1269-FCO40-1619-Banking-situation-in-Hong-Kong-1983 — Page 22

Clause

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exceed in

Amendment Proposed

aggregate any limitations on

such aggregate amount assured in the

letter of comfort.

(9) For the purposes of subsection (1)

a person shall be deemed to be in control

of a company

G

(a)

if he is a person in accordance

with whose directions or

instructions the directors of

the company or of another company

of which it is a subsidiary (or

any of them) are accustomed to

act; or

(b)

if he is a person who is entitled to

exercise, or control the exercise

of 50 per cent or more of the

voting power at any general

meeting of the company or of

another company of which it is

subsidiary,

and references to control in subsection (2)

shall be construed in an analogous manner

but with references herein to a company

being construed as references to a body

corporate, whether or not it is a company.