CAP. 1137]
Trust property and wills.
(1972 c. vi)
Supplementary provisions.
Lloyds Bank (Merger)
[1985 Ed.
(b) if, pursuant to section 4(3) of the UK Act, Lloyds appoints a day for the vesting of any part of the undertaking which is later than the appointed day for the general purposes of the UK Act, that part of 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 on such later day.
5. (1) Any property deemed to be vested in Lloyds by virtue of this Ordinance which immediately before the appointed day was held by LBI, whether alone or jointly with any other person, as trustee or custodian trustee of any trust deed, settlement, covenant, agreement or will (whether originally so appointed or not, and whether appointed under hand or seal, or by order of any court), or as executor of the will, or administrator of the estate, of a deceased person or as judicial trustee appointed by order of any court, or in any other fiduciary capacity, shall, on and from the appointed day, be held by Lloyds alone or, as the case may be, jointly with such other person, in the same capacity upon the trusts, and with and subject to the powers, provisions and liabilities, applicable thereto respectively.
(2) Any existing instrument or order of any court under or by virtue of which (whether alone or by the operation of the Lloyds & Bolsa International Bank Act 1972) any property became vested in LBI in any such fiduciary capacity as is referred to in subsection (1) (including in the case of a will any grant of probate thereof), and any provision in such instrument or order, or any existing contract or arrangement, for the payment to, or retention by, LBI of remuneration for its services in any such fiduciary capacity, shall, on and from the appointed day, be construed and have effect, so far as the context permits, as if for any reference therein (whether original or by the operation of the Lloyds & Bolsa International Bank Act 1972) to LBI, other than a reference (however worded and whether express or implied) to terms and conditions of LBI or to a scale of fees of LBI, there were substituted a reference to Lloyds.
(3) No testamentary gift shall be adeemed by reason only of the operation of any of the provisions of this Ordinance.
6. Without prejudice to the generality of the foregoing provisions but subject to any provision of this Ordinance to the contrary effect, the following provisions of this section shall have effect with respect to matters within Hong Kong or subject to the laws of Hong Kong-
(a) Every contract to which LBI is a party (whether in writing or not) shall have effect on and from the appointed day as if-
(i) Lloyds had been a party thereto instead of LBI;
(ii) for any reference (however worded and whether express or implied) to LBI there were substituted, as respects anything falling to be done on or after the appointed day, a reference to Lloyds;
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CAP. 1137]
Trust property and wills.
(1972 c. vi)
Supplementary provisions.
Lloyds Bank (Merger)
[1985 Ed.
(b) if, pursuant to section 4(3) of the UK Act, Lloyds appoints a day for the vesting of any part of the undertaking which is later than the appointed day for the general purposes of the UK Act, that part of 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 on such later day.
5. (1) Any property deemed to be vested in Lloyds by virtue of this Ordinance which immediately before the appointed day was held by LBI, whether alone or jointly with any other person, as trustee or custodian trustee of any trust deed, settlement, covenant, agreement or will (whether originally so appointed or not, and whether appointed under hand or seal, or by order of any court), or as executor of the will, or administrator of the estate, of a deceased person or as judicial trustee appointed by order of any court, or in any other fiduciary capacity, shall, on and from the appointed day, be held by Lloyds alone or, as the case may be, jointly with such other person, in the same capacity upon the trusts, and with and subject to the powers, provisions and liabilities, applicable thereto respectively.
(2) Any existing instrument or order of any court under or by virtue of which (whether alone or by the operation of the Lloyds & Bolsa International Bank Act 1972) any property became vested in LBI in any such fiduciary capacity as is referred to in subsection (1) (including in the case of a will any grant of probate thereof), and any provision in such instrument or order, or any existing contract or arrangement, for the payment to, or retention by, LBI of remunera- tion for its services in any such fiduciary capacity, shall, on and from the appointed day, be construed and have effect, so far as the context permits, as if for any reference therein (whether original or by the operation of the Lloyds & Bolsa International Bank Act 1972) to LBI, other than a reference (however worded and whether express or implied) to terms and conditions of LBI or to a scale of fees of LBI, there were substituted a reference to Lloyds.
(3) No testamentary gift shall be adeemed by reason only of the operation of any of the provisions of this Ordinance.
6. Without prejudice to the generality of the foregoing provi- sions but subject to any provision of this Ordinance to the contrary effect, the following provisions of this section shall have effect with respect to matters within Hong Kong or subject to the laws of Hong Kong-
(a) Every contract to which LBI is a party (whether in writing or not) shall have effect on and from the appointed day as if-
(i) Lloyds had been a party thereto instead of LBI; (ii) for any reference (however worded and whether express or implied) to LBI there were substituted, as res- pects anything falling to be done on or after the appointed day, a reference to Lloyds;
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