TNAG-1949-FCO40-2777-Future-of-Hong-Kong-First-Pacific-Bank-Limited-1989 — Page 14

"undertaking" means the business and all

existing property, other than the excluded property, and liabilities, other than those relating to the excluded property, of Far East Bank of whatsoever nature;

"will" includes a codicil and any other testamentary writing.

(2)

Any reference in this Ordinance to property or liabilities of Far East Bank is a reference to property or liabilities to which Far East Bank is for the time being entitled or subject (whether beneficially or in any fiduciary capacity), wherever such property or liabilities are situated or arise and whether or not capable of being transferred assigned by Far East Bank, and whether Far East Bank is entitled to such property or subject to such liabilities under the law of Hong Kong or under the law of any country or territory outside Hong Kong.

(3)

Any

or

bc dy politic or corporate and any other person or persons whose rights are affected by any of the provisions of this Ordinance shall be deemed to be mentioned herein.

Appointed day

3.

The directors of Far East Bank may appoint a day for the purposes of this Ordinance. Far East Bank and First Pacific Bank shall give joint notice in the Gazette stating the day so appointed save that, in

event that such day proves not to be the appointed day for any reason, Far East Bank and First Pacific Bank shall give joint notice in the Gazette to that effect and shall again give joint notice in the Gazette stating the next day so appointed or, as the case may be, the day which was the appointed day.

h

Change of name, reduction of capital and revocation of banking licence

(1)

4.

Ordinance-

(a)

(b)

On the appointed day, by virtue of this

the name of Far East Bank shall, in accordance with this section, be changed to "FEB (1989) Limited";

the share premium account of Far East Bank shall, in accordance with this section, be reduced to such amount as is equal to the value of the excluded property, as recorded in the books of account of Far East Bank, less the nominal amount of the issued share capital of Far East Bank as at the appointed day, and the credit arising in

3