TNAG-2125-FCO40-3032-Banking-situation-in-Hong-Kong-1990 — Page 132

deed, settlement, covenant, agreement will or other instrument (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 Hang Lung 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.

(2) Any existing instrument or order of any court under or by

virtue of which any property became vested in Dao Heng Bank, 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, Dao Heng Bank of remuneration for its services in any such fiduciary capacity, shall, on and from the appointed day, be construed and have effect, so far as the context permits, as if for any reference therein to Dao Heng Bank there were substituted a reference to Hang Lung Bank.

(3) No testamentary gift shall be adeemed by reason only of the

operation of any of the provisions of this Ordinance.

Supplementary provisions

8.

without prejudice to the generality of any other provision.of this Ordinance but subject to any provision of this Ordinance to the contrary effect, the following provisions of this section shall have effect

(a)

All existing contracts, agreements, certificates, awards, conveyances, deeds, leases, licences, notices, permits, guarantees, documents granting or comprising any security, bonds, indemnities, mandates, instructions and other instruments and undertakings entered into by, made with, given to or by or addressed to Dao Heng Bank (whether alone or with any other person and whether as principal or agent and whether in writing or not), other than those entered into, made, given to or by or addressed to Dao Heng Bank in relation to the excluded property, shall be construed and have effect on and from the appointed day as if -

(i) Hang Lung Bank had been a party thereto instead of Dao

Heng Bank;

(ii)

for any reference (however worded and whether express or implied) to Dao Heng Bank there were substituted, as respects anything falling to be done on or after the appointed day, a reference to Hang Lung Bank; and

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