TNAG-1949-FCO40-2777-Future-of-Hong-Kong-First-Pacific-Bank-Limited-1989 — Page 33

Change of

name,

reduction of

capital and

revocation of

banking

licence

4.

(1)

On the appointed day:

(a)

(2)

(3)

(b)

(c)

the name of Far East Bank shall, in accordance with this section, be changed to FEB (1960) 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 the books of account of Far East Bank as a result of such reduction of the share premium account shall be applied in creating a special non-distributable reserve which shall be transferred to First Pacific Bank pursuant to section 8(1)(b); and

the banking licence of Far East Bank shall, in accordance with this section,

be revoked.

Not less than 7 days before the appointed day Far East Bank shall deliver to the Registrar a copy of this Ordinance certified by its secretary together with a minute showing with respect to the share capital of Far East Bank, as altered by this Ordinance, the amount retained in the share premium account.

The Registrar shall register the certified copy of the Ordinance and the minute delivered to him pursuant to sub-section (2) above and on the appointed day: -

(i)

(ii)

shall enter Bank in the former- name and-issue to Far East Bank `a certificate of incorporation on change of name stating Far East Bank's new name; and

the new name of Far East

register in place of its

certify under his hand the registration of the Ordinance and the minute, which certificate shall be conclusive evidence that the share premium account of East Bank is as stated in the minute.

Far

!