1964_FIRST_PACIFIC_BANK_LIMITED_ORDINANCE — Page 4

CAP. 1146]

First Pacific Bank Limited

[1989 Ed.

CHAPTER 1146

FIRST PACIFIC BANK LIMITED

To provide for the vesting in First Pacific Bank Limited of the undertaking of

Far East Bank, Limited and for other related purposes.

[15 December 1989]

Originally 72 of 1989 -

Preamble

WHEREAS

1.

(1) First Pacific Bank Limited (hereinafter called "First Pacific Bank") is a company incorporated under the laws of Hong Kong having its registered office in Hong Kong and, as a bank licensed under the Banking Ordinance (Cap. 155), carries on the business of banking in Hong Kong and elsewhere;

(2) Far East Bank, Limited (hereinafter called "Far East Bank") is a company incorporated under the laws of Hong Kong having its registered office in Hong Kong and, as a bank licensed under the Banking Ordinance (Cap. 155), carries on the business of banking in Hong Kong;

(3) First Pacific Bank is a wholly owned subsidiary of Far East Bank;

(4) for the better conduct of the businesses of First Pacific Bank and Far East Bank, it is expedient that their respective undertakings be merged and that such merger should occur by means of a transfer of the undertaking of Far East Bank to First Pacific Bank; and

(5) in view of the extent of the contractual and other legal relationships affecting the conduct of the undertaking of Far East Bank, it is expedient that the said undertaking be transferred to First Pacific Bank by this Ordinance.

Short title

This Ordinance may be cited as the First Pacific Bank Limited Ordinance.

2. Interpretation

(1) In this Ordinance, unless the subject or context otherwise requires-

"appointed day" (指定日期) means such day as may be appointed pursuant to section 3;

"customer" (客戶) means any person having a banking account or other dealing, transaction or arrangement with Far East Bank;