TNAG-1769-FCO40-2523-Hong-Kong-mergers-involving-banks-and-other-financial-instit-1988 — Page 147

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and future liabilities to the game extent and in the same Kanner in all respects 24 future advances by, or liabilities to, Rainier or, as the case may be, Daiwa ware secured thereby immediately before that day.

(h) Where by virtue of this Ordinance any right or liability of Rainier is deemed to become a right or liability of Daiwa, Daiwa and all other persons shall, on and from the appointed day, have the same rights, powers and remodies (and in particular the same rights and powers as to taking or resisting legal proceedings or making or resisting applications to any authority) for ascertaining, perfecting or enforcing that right or liability as if it had at all times been a right or liability of Daiwa; and any legal proceedings or application to any authority existing or pending immediately before the appointed day by or against Rainier may be continued by or against Daiwa.

(1) Any judgement or award obtained by or against Rainier and not fully satisfied before the appointed day shall on that day, to the extent to which it is enforceable by or against Rainier, become enforceable hy or against Daiwa.

(1) Section 6(a) shall apply to a contract for the employment of any person by Rainier; and employment with Reinier and Daiwa under any such contract shall be deemed for all purposes to be a single conzinuing employment.

(2) No director or auditor of Rainier shall by virtue only of this Ordinance become a director or, as the case may be, auditor of Daiwa.

3. (1) ALL books and other documents which would, befoxe the appointed day, have been evidence in respect of any matter for or against Reinier shall be admissible in evidence in respect of the same matter for or against Daiwa.

(2) In this section

It

'documents" has the same meaning as in section 55 of the Evidence Ordinance.

9. (1) On and from the appointed day Part III of the Evidence Ordinance shall apply to the banker's records of Rainier deemed to be vested in Daiwa by virtue of this Ordinance, and to entries made in those records before the appointed day, as if such records were the records of Daiwa,

(2) For the purposes of section 20 of the Evidence Ordinance, banker's records which are deemed to have bocome the banker's records of Daiwa by virtue of this Ordinance shall be deemed to have been the ordinary banker's records of Daiva at the time of the making of any entry therein which purports to have been made before the appointed day, and any such entry shall be deemed to have been made in the usual and ordinary course of business.

(3) In this section "banker's records" shall be construed in accordance with section 2 of the Evidence Ordinance.

G29RSG0003J3

Contracts of employment

Evidence: books and documents

(Cap.3)

Part III of Evidenca

Ordinance

(Cap.8)