TNAG-2125-FCO40-3032-Banking-situation-in-Hong-Kong-1990 — Page 131

(2)

(b) the name of Hang Lung Bank shall, in accordance with

this section, be changed to ["Dao Heng Bank Limited"];

(c) the banking licence of Dao Heng Bank shall, in accordance with this section, be revoked.

Not less than 7 days before the appointed day Dao Heng Bank shall deliver to the Registrar of Companies a copy of this Ordinance.

(3) The Registrar of Companies shall, pursuant to this

Ordinance, register the copy of the Ordinance delivered to him pursuant to subsection (2) and on the appointed day -

(a) shall enter the new name of Dao Heng Bank in the

(b)

register in place of its former name and issue to Dao Heng Bank a certificate of incorporation on change of name stating Dao Heng Bank's new name; and

shall enter the new name of Hang Lung Bank in the register in place of its former name and issue to Hang Lung Bank a certificate of incorporation or change of name stating Hang Lung Bank's new name.

Repeal of certain provisions of the Hang Lung Bank (Acquisition) Ordinance (Cap 345)

5.

Sections [5, 7(1), (6) and (7), 9(1)(b), 10, 11 and 12] of the Hang Lung Bank (Acquisition) Ordinance (Cap 345) are repealed.

Vesting of the undertaking in Hang Lung Bank

(1)

(2)

On the appointed day the undertaking shall, by virtue of this Ordinance and without further act or deed, be transferred to, and vest in, Hang Lung Bank to the intent that Hang Lung Bank shall succeed to the whole undertaking as if in all respects Hang Lung Bank were the same person in law as Dao Heng Bank.

Where the vesting of any property situate in any country or territory outside Hong Kong and forming part of the undertaking is governed otherwise than by the law of Hong Kong, Dao Heng Bank shall, if Hang Lung Bank so requires, so soon as is practicable after the appointed day, take all necessary steps for securing the effective vesting thereof in Hang Lung Bank and, pending such vesting, Dao Heng Bank shall hold any such property in trust for Hang Lung Bank.

Trust property and wills

7.

(1) Any property deemed to be vested in Hang Lung Bank by virtue of this Ordinance which immediately before the appointed day was held by Dao Heng Bank, whether alone or jointly with any other person, as trustee or custodian trustee of any trust

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