1985 Ed.]
Lloyds Bank (Merger)
CAP. 1137
"customer" means any person having a banking account or other dealing, transaction or arrangement with LBI or, as the case may be, Lloyds;
"existing" means existing, outstanding or in force immediately before the appointed day;
"LBI" means Lloyds Bank International Limited;
"liabilities" includes duties and obligations of every description (whether present or future, actual or contingent);
"Lloyds" means Lloyds Bank Plc;
"property" means property and assets of every description and rights of every description (whether present or future, actual or contingent), and includes property held on trust and securities, benefits and powers of every description;
"security" includes a mortgage or charge (whether legal or equitable), debenture, bill of exchange, promissory note, guarantee, lien, pledge (whether actual or constructive), hypothecation, assignment by way of security, indemnity, right of set-off, undertaking or other means of securing payment or discharge of a liability (whether present or future, actual or contingent);
"UK Act" means the Lloyds Bank (Merger) Act 1985;
"the undertaking" means the business and all existing property and liabilities of LBI of whatsoever nature, except documents required to be kept by LBI pursuant to the provisions of the Companies Acts 1948 to 1983 (as defined in the Companies (Beneficial Interests) Act 1983);
"will" includes a codicil and any other testamentary writing.
(2) In sections 8, 9, 10 and 11 the appointed day is the day appointed for the general purposes of the UK Act.
(3) Any reference in this Ordinance to property or liabilities of LBI is a reference to property or liabilities to which LBI is for the time being entitled or subject (whether beneficially or in any fiduciary capacity), wherever such property or liabilities are situated or arise and whether or not capable of being transferred or assigned by LBI, and whether LBI is entitled or subject to the property or liabilities under the law of Hong Kong or under the law of any country or territory outside Hong Kong.
3. Lloyds shall give notice in the Gazette of the day appointed as the appointed day for the general purposes of the UK Act under section 3 thereof.
(1985 c. ix)
(1985 c. 50)
Notice of appointed day.
4.
It is declared that---
(a) subject to paragraph (b), on the appointed day for the general purposes of the UK Act, the undertaking shall, by virtue of the UK Act and without further assurance, be deemed for the purposes of Hong Kong law to have vested in Lloyds as if in all respects Lloyds were the same person in law as LBI;
Recognition of vesting of LBI's undertaking in Lloyds.
3
1985 Ed.]
Lloyds Bank (Merger)
ĮCAP. 1137
"customer" means any person having a banking account or other dealing, transaction or arrangement with LBI or, as the case may be, Lloyds;
"existing" means existing, outstanding or in force immediately
before the appointed day;
"LBI" means Lloyds Bank International Limited;
"liabilities" includes duties and obligations of every description
(whether present or future, actual or contingent);
"Lloyds" means Lloyds Bank Plc;
"property" means property and assets of every description and rights of every description (whether present or future, actual or contingent), and includes property held on trust and securities, benefits and powers of every description;
"security" includes a mortgage or charge (whether legal or equita- ble), debenture, bill of exchange, promissory note, guarantee, lien, pledge (whether actual or constructive), hypothecation, assignment by way of security, indemnity, right of set-off, undertaking or other means of securing payment or discharge of a liability (whether present or future, actual or contingent); “UK Act” means the Lloyds Bank (Merger) Act 1985; "the undertaking" means the business and all existing property and liabilities of LBI of whatsoever nature, except documents required to be kept by LBI pursuant to the provisions of the Companies Acts 1948 to 1983 (as defined in the Companies (Beneficial Interests) Act 1983);
“will” includes a codicil and any other testamentary writing.
(2) In sections 8, 9, 10 and 11 the appointed day is the day appointed for the general purposes of the UK Act.
(3) Any reference in this Ordinance to property or liabilities of LBI is a reference to property or liabilities to which LBI is for the time being entitled or subject (whether beneficially or in any fiduci- ary capacity), wherever such property or liabilities are situated or arise and whether or not capable of being transferred or assigned by LBI, and whether LBI is entitled or subject to the property or liabilities under the law of Hong Kong or under the law of any country or territory outside Hong Kong.
3. Lloyds shall give notice in the Gazette of the day appointed as the appointed day for the general purposes of the UK Act under section 3 thereof.
(1985 c. ix)
(198) c. 50.)
Notice of appointed day.
4.
It is declared that---
(a) subject to paragraph (b), on the appointed day for the general purposes of the UK Act, the undertaking shall, by virtue of the UK Act and without further assurance, be deemed for the purposes of Hong Kong law to have vested in Lloyds as if in all respects Lloyds were the same person in law as LBI;
Recognition of vesting of LBI's undertaking in Lloyds.
3
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