TNAG-1269-FCO40-1619-Banking-situation-in-Hong-Kong-1983 — Page 38

Clause

12

<

:

(b)

Amendment Proposed

the expression "advances, 10s,

facilities, guarantees or

liabilities" shall mean.

advances, loans, facilities,

guarantees or liabilities

referred to in subsection (1);

(c) advances, loans, facilities,

guarantees or liabilities shall

be deemed to be granted to and

to be outstanding in relation

to any person liable or

contingently liable thereon

whether as principal debtor,

guarantor, or otherwise:

Provided that the reference

in this paragraph to a guarantor

shall not include a person

(not being a deposit-taking

company) who guarantees the

obligations of another under

-

(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