TNAG-1727-FCO40-2440-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 307

Clause 4

MR. LI: Sir, with the leave already obtained from you

三

under Standing Order 45(2), I will move amendments to

the Deutsche Bank (Merger) Bill 1988. These amendments

are only those which have been required by the foreign

and commonwealth office

ffice as a result of this Bill having

been referred to it. They are essentially technical

requirements and do not in any way affect the substance

it applied of the Bill other than to ensure that apply only to

extraterutonge Hong Kong law and does not have exterritorial effect.

I hour move

that clause 4 be umzuded as set out in the paper circulated to Members.

}

Proposed amendment

Clause 4

That clause 4 be amended

Glauben By deleting clause 4 and substituting the

le frausers

following:-

"Recognition

4.

of vesting of

DB Asia's

in Deutsche

undertaking

Bank

On the appointed day that part of the undertaking of DB Asia which is governed by Hong Kong law or the transfer of which- is governed by Hong Kong law or which is derived from the Hong Kong business of DB Asia shall be deemed for the purpose of Hong Kong law to be transferred to, and vest in, Deutsche Bank to the intent that Deutsche Bank shall succeed to such part of the undertaking of DB Asia as if in all respects Deutsche Bank were the same person in law as DB Asia."

The amendment was agreed to. Clause 4, as amended, was agreed to.