TNAG-2125-FCO40-3032-Banking-situation-in-Hong-Kong-1990 — Page 104

(3)

Any body 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.

Notice of Appointed day

3.

Bergen Bank shall give notice in the Gazette of the day expected to be the appointed day save that, in the event that such day proves not to be the appointed day for any reason, Bergen Bank shall give notice in the Gazette to that effect and shall again give notice in the Gazette of the next day expected to be the appointed day or, as the case may be, of the day which was the appointed day.

Recognition of vesting of DnC's undertaking in Den norske Bank

4.

On the appointed day that part of the undertaking of DnC which is governed by Hong Kong law or the transfer of which is governed by Hong Kong law or which is derived from the Hong Kong business of DnC shall be deemed for the purpose of Hong Kong law to be transferred to, and vest in, Den norske Bank to the intent that Den norske Bank shall succeed to such part of the undertaking of DnC as if in all respects Den norske Bank were the same person in law as DnC.

Trust property and wills

5.

(1)

(2)

Any property deemed to be vested in Den norske Bank by virtue of this Ordinance which immediately before the appointed day was held by DnC, whether alone or jointly with any other person, as trustee or custodian trustee of any trust deed, settlement, covenant, agreement or will (whether originally so appointed or not, and whether appointed under hand or seal, or by order of any court), or as executor of the will, or administrator of the estate, of a deceased person or as judicial trustee appointed by order of any court, or in any other fiduciary capacity, shall, on and from the appointed day, be held by Den norske Bank alone or, as the case may be, jointly with such other person, in the same capacity upon the trusts, and with and subject to the powers, provisions and liabilities, applicable thereto respectively.

Any existing instrument or order of any court under or by virtue of which any property became vested in DnC in any such fiduciary capacity as is referred to in subsection (1) (including in the case of a will any grant of probate thereof), and any provision in such instrument or order, or any existing contract or arrangement, for the payment to, or retention by, DnC of remuneration for its services in any such fiduciary capacity, shall, on and from the appointed day, be

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