TNAG-2125-FCO40-3032-Banking-situation-in-Hong-Kong-1990 — Page 129

"Hang Lung Bank"

"existing"

"liabilities"

"property"

"security"

(ii) general reserves of

HK$ [100 million]; and

(iii)

retained earnings of such amount as is equal to the value of the excluded property, as recorded in the books of account of Dao Heng Bank on the appointed day, less the nominal amount of the issued share capital of Dao Heng Bank as at the appointed day and the amount of the reserves at (i) and (ii) above;

means Hang Lung Bank, Limited;

means existing, outstanding or in force immediately before the appointed day;

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

means property and assets of every description wheresoever situate and rights of every description (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;

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

3