TNAG-1269-FCO40-1619-Banking-situation-in-Hong-Kong-1983 — Page 24

Clause

- 14

Amendment Proposed

(i) a hire purchase agreement, that

is to say an agreement for the

bailment of goods under which the

bailee may buy the goods, or under

which the property in the goods will

or may pass to the bailee; or

(a)

(ii) a conditional sale agreement,

that is to say an agreement

for

the sale of goods under which the

purchase price or part of it is

payable by instalments, and the

property in the goods is to

remain in the seller (notwithstanding

that the buyer is to be in

possession of the goods) until

such conditions as to payment of

instalments or otherwise as may

be specified in the agreement

are fulfilled; and

the expression "letter of comfort"

means a letter of comfort whether

or not it is enforceable at law.";

(c) by renumbering subsection (3) as subsection (11);