1988 Ed.]
Conveyancing and Property
[CAP. 219
29
(9) Except in subsection (4), this section does not apply to a condition for forfeiture on the bankruptcy of the lessee or on taking in execution of the lessee's interest. (Amended, 31 of 1988, s. 21)
(10) This section does not, save as mentioned in subsection (4), affect the law relating to re-entry or forfeiture or relief in case of non-payment of rent.
(11) This section has effect notwithstanding any stipulation to the contrary.
(12) Nothing in this section shall affect the provisions of the Crown Rights (Re-entry and Vesting Remedies) Ordinance (Cap.126).
(13) In this section, "court" includes the Lands Tribunal.
(14) This section shall have effect subject to the Landlord and Tenant (Consolidation) Ordinance (Cap.7) and the District Court Ordinance (Cap.336). [cf. U.K. 1925 c. 20, s. 146]
PART VII
VOIDABLE DISPOSITIONS
Purchase not voidable for undervalue
59. (1) No purchase, made bona fide and without fraud, of any interest in property of any kind within Hong Kong shall be opened or set aside merely on the ground of undervalue.
(2) For the purpose of this section, “purchase" shall include every kind of disposition under or by which any beneficial interest in any kind of property may be acquired.
Voidability of dispositions to defraud creditors
[cf. U.K. 31 & 32 Vict. c. 4, s. 1]
60. (1) Subject to subsections (2) and (3), every disposition of property made, whether before or after the commencement of this section, with intent to defraud creditors, shall be voidable, at the instance of any person thereby prejudiced.
(2) This section does not affect the law of bankruptcy for the time being in force.
(3) This section does not extend to any estate or interest in property disposed of for valuable consideration and in good faith or upon good consideration and in good faith to any person not having, at the time of the disposition, notice of the intent to defraud creditors. (Amended, 31 of 1988, s. 22)
Voluntary disposition of land: how far voidable
as against purchasers
[cf. U.K. 1925 c. 20, s. 172]
61. (1) Every voluntary disposition of land made with intent to defraud a subsequent purchaser is voidable at the instance of that purchaser.
Page 31
1988 Ed.]
Conveyancing and Property
[CAP. 219
29
(9) Except in subsection (4), this section does not apply to a condition for forfeiture on the bankruptcy of the lessee or on taking in execution of the lessee's interest. (Amended, 31 of 1988, s. 21)
(10) This section does not, save as mentioned in subsection (4), affect the law relating to re-entry or forfeiture or relief in case of non-payment of rent.
(11) This section has effect notwithstanding any stipulation to the contrary.
(12) Nothing in this section shall affect the provisions of the Crown Rights (Re-entry and Vesting Remedies) Ordinance (Cap. 126).
(13) In this section, "court" includes the Lands Tribunal.
(14) This section shall have effect subject to the Landlord and Tenant (Consolidation) Ordinance (Cap. 7) and the District Court Ordinance (Cap. 336). [cf. U.K. 1925 c. 20, s. 146]
PART VII
VOIDABLE DISPOSITIONS
Purchase not voidable for undervalue
59. (1) No purchase, made bona fide and without fraud, of any interest in property of any kind within Hong Kong shall be opened or set aside merely on the ground of undervalue.
(2) For the purpose of this section, “purchase" shall include every kind of disposition under or by which any beneficial interest in any kind of property may be acquired.
Voidability of dispositions to defraud creditors
[cf. U.K. 31 & 32 Vict. c. 4, s. 1]
60. (1) Subject to subsections (2) and (3), every disposition of property made, whether before or after the commencement of this section, with intent to defraud creditors, shall be voidable, at the instance of any person thereby prejudiced.
(2) This section does not affect the law of bankruptcy for the time being in force.
(3) This section does not extend to any estate or interest in property disposed of for valuable consideration and in good faith or upon good consideration and in good faith to any person not having, at the time of the disposition, notice of the intent to defraud creditors. (Amended, 31 of 1988, s. 22)
Voluntary disposition of land: how far voidable
as against purchasers
[cf. U.K. 1925 c. 20, s. 172]
61. (1) Every voluntary disposition of land made with intent to defraud a subsequent purchaser is voidable at the instance of that purchaser.
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