10
CAP. 1138]
Contracts of employment.
Retirement fund.
Royal Bank of Scotland
[1985 Ed.
Bank or, as the case may require, be held by such agent or nominee as agent for or nominee of the Bank, and the rights and obligations of Royal Bank of Scotland under any contract of bailment, deposit or custodianship relating to such document, goods or property, or under any other contract or arrangement (whether in writing or not) or deed or other instrument or document regulating custody or possession of the same, shall by virtue of this Ordinance be transferred on the appointed day to the Bank;
(e) any negotiable instrument or order for payment of money, whether drawn, given, accepted or endorsed before, on or after the appointed day, which is expressed to be drawn on, or given to, or accepted or endorsed by, Royal Bank of Scotland, or payable at any place of business of Royal Bank of Scotland, shall have the same effect on and from the appointed day (or, if it be later, the date upon which it is drawn, given, accepted or endorsed) as if it had been drawn on, or given to, or accepted or endorsed by the Bank, or payable at the same place of business of the Bank.
(2) Any reference in paragraph (c) of subsection (1) to securities held by or in favour of Royal Bank of Scotland shall be construed as including a reference to securities held by an agent or trustee for, or a nominee of, Royal Bank of Scotland and any reference in that paragraph to securities held by or in favour of Royal Bank of Scotland being, on and from the appointed day, held by or in favour of the Bank shall be construed as including a reference to securities which are held by an agent or trustee for, or a nominee of, Royal Bank of Scotland being, on and from the appointed day, held by such agent, trustee or nominee as agent or trustee for, or nominee of, the Bank.
8. (1) Section 5(2) shall apply to a contract for the employment of any person by Royal Bank of Scotland and employment by Royal Bank of Scotland and the Bank under any such contract shall be deemed for all purposes to be a single continuing employment.
(2) No director, secretary or auditor of Royal Bank of Scotland shall, by virtue only of this Ordinance, become a director, secretary or, as the case may be, auditor of the Bank.
9.
(1) In this section "the fund" means the group retirement benefit fund established in Hong Kong by policy number GPC-1093 issued by American International Assurance Company Limited to Royal Bank of Scotland,
(2) For the purposes of section 4 and without prejudice to the generality of any other provision of this Ordinance, the policies, rules, regulations and instruments constituting or relating to the fund shall, on and from the appointed day, be construed and have effect, so far as the context permits, as if for any reference therein, express or implied, to Royal Bank of Scotland (except in the name or
t
10
CAP. 1138]
Contracts of employment.
Retirement fund.
Royal Bank of Scotland
[1985 Ed.
Bank or, as the case may require, be held by such agent or nominee as agent for or nominee of the Bank, and the rights and obligations of Royal Bank of Scotland under any contract of bailment, deposit or custodianship relating to such document, goods or property, or under any other contract or arrangement (whether in writing or not) or deed or other instrument or document regulating custody or possession of the same, shall by virtue of this Ordinance be transferred on the appointed day to the Bank;
(e) any negotiable instrument or order for payment of money, whether drawn, given, accepted or endorsed before, on or after the appointed day, which is expressed to be drawn on, or given to, or accepted or endorsed by, Royal Bank of Scotland, or payable at any place of business of Royal Bank of Scotland, shall have the same effect on and from the appointed day (or, if it be later, the date upon which it is drawn, given, accepted or endorsed) as if it had been drawn on, or given to, or accepted or endorsed by the Bank, or payable at the same place of business of the Bank.
(2) Any reference in paragraph (c) of subsection (1) to securi- ties held by or in favour of Royal Bank of Scotland shall be construed as including a reference to securities held by an agent or trustee for, or a nominee of, Royal Bank of Scotland and any reference in that paragraph to securities held by or in favour of Royal Bank of Scotland being, on and from the appointed day, held by or in favour of the Bank shall be construed as including a reference to securities which are held by an agent or trustee for, or a nominee of, Royal Bank of Scotland being, on and from the appointed day, held by such agent, trustee or nominee as agent or trustee for, or nominee of, the Bank.
8. (1) Section 5(2) shall apply to a contract for the employ- ment of any person by Royal Bank of Scotland and employment by Royal Bank of Scotland and the Bank under any such contract shall be deemed for all purposes to be a single continuing employment.
(2) No director, secretary or auditor of Royal Bank of Scot- land shall, by virtue only of this Ordinance, become a director, secretary or, as the case may be, auditor of the Bank.
9.
(1) In this section "the fund” means the group retirement benefit fund established in Hong Kong by policy number GPC-1093 issued by American International Assurance Company Limited to Royal Bank of Scotland,
(2) For the purposes of section 4 and without prejudice to the generality of any other provision of this Ordinance, the policies, rules, regulations and instruments constituting or relating to the fund shall, on and from the appointed day, be construed and have effect, so far as the context permits, as if for any reference therein, express or implied, to Royal Bank of Scotland (except in the name or
No comments yet.
Private notes are available after approval.