1964_BILLS_OF_SALE_ORDINANCE — Page 6

1986 Ed.]

Bills of Sale

[CAP. 20

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(a) in the case of a bill of sale made or given by way of security for the payment of money, be void in respect of the chattels comprised therein; and

(b) in the case of any other bill of sale, as against all trustees or assignees of the estate of the person whose chattels, or any of them, are comprised in such bill of sale under the law relating to bankruptcy or liquidation, or under any assign- ment for the benefit of the creditors of such person, and also as against all bailiffs and other persons seizing any chattels comprised in such bill of sale, in the execution of any process of any court authorizing the seizure of the chattels of the person by whom or of whose chattels such bill has been made, and also as against every person on whose behalf such process shall have been issued, be deemed fraudulent and void so far as regards the property in or right to possession of any chattels comprised in such bill of sale which, at or after the time of filing the petition for bankruptcy or liquidation, or of the execution of such assignment, or of executing such process, as the case may be, and after the expiration of such 7 clear days are in the possession or apparent possession of the person making such bill of sale, or of any person against whom the process has been issued under or in the execution of which such bill has been made or given, as the case may be.

(Amended, 55 of 1967, s. 3 and 33 of 1985, s. 3)

8. Where a subsequent bill of sale is executed within or on the expiration of 7 days after the execution of a prior unregistered bill of sale, and comprises all or any part of the personal chattels comprised in such prior bill of sale, then, if such subsequent bill of sale is given as a security for the same debt as is secured by the prior bill of sale or for any part of such debt, it shall, to the extent to which it is a security for the same debt or part thereof and so far as respects the personal chattels or part thereof comprised in the prior bill, be absolutely void, unless it is proved, to the satisfaction of the court having cognizance of the case, that the subsequent bill of sale was bona fide given for the purpose of correcting some material error in the prior bill of sale, and not for the purpose of evading this Ordinance.

9. (1) A bill of sale shall be attested and registered under this Ordinance in the following manner----

(a) in the case of-

(i) a bill of sale made or given by way of security for the payment of money, the execution of the bill by the grantor shall be witnessed by one or more credible witnesses, not being a party or parties thereto; and

(ii) any other bill of sale, the execution of the bill by the grantor shall be witnessed by a solicitor of the Supreme Court if it is executed in Hong Kong or by a Commissioner to administer oaths in the Supreme Court if it is executed

Avoidance of certain duplicate bills of sale.

1878 c. 31, s. 9.

Mode of registering bills of sale.

1878 c. 31. s. 10: 1882 c. 43, s. 10.