TNAG-1809-FCO40-2570-Hong-Kong-Conveyancing-and-Property-(Amendment)-Ordinance-19-1988 — Page 27

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(a) in subsection (3), by inserting, immediately after "on a mort-

gagor", the following-

"or lessee"; and

(b) in subsection (4), by deleting "or a mortgage".

22. Part I of the First Schedule to the principal Ordinance is Amendment of amended-

(a) by deleting the title and substituting the following-

“IMPLIED COVENANTS IN ANY ASSIGNMENT OF LAND”;

(b) in sub-part A-

(i) by deleting "a portion of the Crown rent being apportioned on the land" and substituting the following-

"the land being partitioned by assignment";

(ii) by inserting, immediately after "in the Crown lease", the following

"and any Deed of Mutual Covenant"; and

(iii) by deleting "and shall from the date aforesaid" to the end of the sub-part; and

(c) in sub-part B-

(i) by inserting, immediately after "in the Crown lease", the following---

"and any Deed of Mutual Covenant”; and

(ii) by deleting "and also will from time to time" to the end of the sub-part.

Part I of the

First Schedule.

23. Paragraph 2 of Part II of the First Schedule to the principal Amendment of Ordinance is deleted and replaced by the following-

"2. That, so far as the same relate to the land assigned—

(a) the premium or other money (if any) and the Crown rent payable under and reserved by the Crown lease have been paid; and

(b) the covenants, terms and conditions contained in the Crown lease and any Deed of Mutual Covenant have been observed and performed,

up to the date of the assignment.”.

Part II of the

First Schedule.

24. Paragraph 2 of Part V of the First Schedule to the principal Amendment of Ordinance is deleted and replaced by the following-

"2. That, so far as the same relate to the land mortgaged-

(a) the premium or other money (if any) and the Crown rent payable under and reserved by the Crown lease have been paid; and

(b) the covenants, terms and conditions contained in the Crown lease and any Deed of Mutual Covenant have been observed and performed,

Part V of the First Schedule.