TNAG-2755-FCO40-3972-Banking-situation-in-Hong-Kong-1993 — Page 64

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CAP. 345] Hang Lung Bank (Compensation of Former

Shareholders) Regulations

[1989 Ed.

[Subsidiary]

HANG LUNG BANK (COMPENSATION OF FORMER SHAREHOLDERS) REGULATIONS

(Cap. 345, section 9)

[3 August 1984]

(

L.N. 253 of 1984 — R. Ed. 1984, L.N. 180 of 1985, L.N. 223 of 1985, 27 of 1986

PART I

GENERAL

1. Citation

These regulations may be cited as the Hang Lung Bank (Compensation of Former Shareholders) Regulations.

2.

Interpretation

In these regulations--

"Chairman" means the Chairman of the Tribunal appointed under regulation 5; "compensation" means compensation payable to former shareholders under

section 8(1) of the Ordinance;

"former shareholder" means a person referred to in section 8(1) of the

Ordinance;

"hearing" includes any adjourned hearing;

"representations” includes the calling or giving of evidence;

"shares" means the shares in the capital of the company held by former

shareholders immediately before commencement:

"Tribunal" means the Hang Lung Bank Compensation Tribunal established

under regulation 3.

し

PART II

DETERMINATION OF COMPENSATION

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3.

Establishment of Tribunal

(1) For the purpose of determining the amount of compensation the Governor may, and if requested in writing by any former shareholder shall, by notice published in the Gazette, establish a Tribunal to be known as the Hang Lung Bank Compensation Tribunal.

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Г.