TNAG-1707-FCO40-2379-Prisons-and-prisoners-in-Hong-Kong-various-ordinances-1988 — Page 91

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Repeal of sections 18 and 19.

Amendment of section 20.

Addition of

new sections 20A and 20B.

Ord. No. 52/87

Power to award damages as well as, or in substitution for, injunction or specific

performance.

1981 c. 54, s. 50.

SUPREME COURT (AMENDMENT)

17. Where the Court of Appeal or the High Court has jurisdiction to entertain an application for an injunction or specific performance, it may award damages in addition to, or in substitution for, an injunction or specific performance.".

12. Sections 18 and 19 of the principal Ordinance are repealed.

13. Section 20 of the principal Ordinance is amended by deleting subsections (1), (2) and (3) and substituting the following-

1979 c. 53, s. 1.

"(1) Where, under a judgment or order of the High Court, a person (in this section and in sections 20A and 20B referred to as the "debtor") is required to pay a sum of money to another person (in this section and in section 20A referred to as the "creditor") then, for the purpose of enforcing that judgment or order, the High Court may make an order imposing on any such property of the debtor as may be specified in the order a charge for securing the payment of any money due or to become due under the judgment or order.

(2) An order under subsection (1) is referred to in this Ordinance as a "charging order".

(3) In deciding whether to make a charging order the High Court shall consider all the circumstances of the case and, in particular, any evidence before it as to-

(a) the personal circumstances of the debtor; and

(b) whether any other creditor of the debtor would be likely to be unduly prejudiced by the making of the order.".

14. The principal Ordinance is amended by adding, after section 20, the following

"Property

which may be charged.

1979 c. 53, s. 2.

20A. (1) Subject to subsection (3), a charge may be imposed by a charging order only on-

(a) an interest held by the debtor beneficially—

(i) in any asset of a kind mentioned in subsection (2); or

(ii) under any trust; or

(b) an interest held by a person as trustee of a trust (in this paragraph referred to as "the trust"), if the interest is in an asset of a kind mentioned in subsec- tion (2) or is an interest under another trust and-

SUPREME COURT (AMENDMENT)

Ord. No. 52/87

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(i) the judgment or order in respect of which a charge is to be imposed was made against that person as trustee of the trust;

(ii) the whole beneficial interest under the trust is held by the debtor unencumbered and for his own benefit; or

(iii) in a case where there are two or more debtors all of whom are liable to the creditor for the same debt, they together hold the whole beneficial interest under the trust unencumbered and for their own benefit.

(2) The assets referred to in subsection (1) are--- (a) land;

(b) securities of any of the following kinds-

(i) Government stock;

(ii) stock of any body incorporated in Hong Kong;

(iii) stock of any body incorporated outside Hong Kong or of any state or territory outside Hong Kong, being stock registered in a register kept at any place within Hong Kong;

(iv) units of any unit trust in respect of which a register of the unit holders is kept at any place within Hong Kong; or

(c) funds in court.

(3) In any case where a charge is imposed by a charging order on any interest in an asset of a kind mentioned in subsection (2)(b) or (c), the High Court may provide for the charge to extend to any interest, dividend or other distribu- tion payable and any bonus issue in respect of the asset.

(4) In this section-

1979 c. 53, s. 6. "dividend" includes any distribution in respect of any unit of

a unit trust;

Provisions

"stock" includes shares, debentures, loan stocks, funds,

bonds, notes, any other securities issued by the body concerned, whether or not constituting a charge on the assets of that body and any rights or options to subscribe for or be allotted any of the foregoing; and “unit trust” means any trust established for the purpose, or having the effect, of providing, for persons having funds available for investment, facilities for the participation by them, as beneficiaries under the trust, in any profits or income arising from the acquisition, holding, manage- ment or disposal of any property whatsoever.

20B. (1) A charging order may be made either ab- supplementary solutely or subject to conditions as to notifying the debtor or as to the time when the charge is to become enforceable, or as to other matters.

to sections 20 and 20A.

1979 c. 53, s. 3.