(b)
(iii) any reference (however worded and whether express or
implied) to the directors or to any director, officer or employee of Dao Heng Bank were, as respects anything falling to be done on or after the appointed day, a reference to the directors of Hang Lung Bank, or as the case may require, to such director, officer or employee of Hang Lung Bank as Hang Lung Bank may appoint for that purpose or, in default of appointment, to the director, officer or employee of Hang Lung Bank who corresponds as nearly as may be to the first-mentioned director, officer or employee.
Paragraph (a)(ii) shall, subject to the provisions of section 16, apply to any statutory provision, to any provision of any existing contract to which Dao Heng Bank was not a party and to any provision of any other existing document (not being a contract or a will) as they apply to a contract to which that paragraph applies.
on
(c) Any account between Dao Heng Bank and a customer shall,
the appointed day, be transferred to Hang Lung Bank and become an account between Hang Lung Bank and such customer subject to the same conditions and incidents as theretofore; and such account shall be deemed for all purposes to be a single continuing account; provided that nothing in this Ordinance shall affect any right of Hang Lung Bank or of any customer to vary the conditions or incidents subject to which any account is kept.
(d) Any existing instruction, order, direction, mandate, power of attorney, authority, undertaking or consent (whether in writing or not and whether or not in relation to an account) given to Dao Heng Bank, either alone or jointly with another person, shall apply and have effect, on and from the appointed day, as if given to Hang Lung Bank or, as the case may be, to Hang Lung Bank jointly with such other person.
(e) Any negotiable instrument or order for payment of money
drawn on or given to, or accepted or endorsed by, Dao Heng Bank, or payable at any place of business of Dao Heng Bank, whether so drawn, given, accepted or endorsed before, or on the appointed day, shall have the same effect on and from the appointed day, as if it had been drawn on, or given to, or accepted or endorsed by Hang Lung Bank, or were payable at the same place of business of Hang Lung Bank.
(f)
The custody of any document or record, goods or other thing held by Dao Heng Bank as bailee shall pass to Hang Lung Bank on the appointed day, and the rights and obligations of Dao Heng Bank under any contract of bailment relating to any such document or record, goods or thing shall on that day become rights and obligations of Hang Lung Bank.
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