TNAG-1949-FCO40-2777-Future-of-Hong-Kong-First-Pacific-Bank-Limited-1989 — Page 13

NOW THEREFORE Kong, with the advice thereof, as follows-

Short title

1.

BE

IT and

ENACTED by the Governor of Hong consent of the Legislative

Council

This Ordinance may be cited as the First

the First Pacific

Bank Limited Ordinance 1989.

Interpretation

2.

(1)

In this Ordinance, unless the subject or context otherwise requires-

"appointed day" means such day as may be appointed pursuant to

section 3/

31/;

"customer" means any person having a banking account ΟΙ other

dealing, transaction or arrangement with Far East Bank;

"Far East Bank" means Far East Bank, Limited;

"First Pacific Bank" means First Pacific Bank Limited;

"excluded property" means the common seal of Far East Bank, documents (other than accounting records) required to be kept by Far East Bank pursuant to the Companies Ordinance and the issued shares in the capital of First Pacific Bank beneficially owned by Far East Bank;

"existing" means existing, outstanding or in force immediately

before the appointed day;

"liabilities" includes duties and obligations of every description (whether present or future, actual or contingent);

"property" means property and assets of every description and

rights of every description (whether

(whether present or future, actual or contingent), and includes property held on trust and securities, benefits and powers of every description but does not include the excluded property;

"security" includes a mortgage or charge (whether legal or equitable and including any sub-mortgage), debenture, bill of exchange, promissory note, guarantee, lien, pledge (whether actual or constructive), hypothecation, assignment by way of security, indemnity, right of set-off, agreement or undertaking (whether in writing or not) or other means (in each case made, granted,

granted, arising or

or subsisting under any applicable law) of securing payment or discharge of a debt or liability (whether present ΟΙ future, actual contingent);

or

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