1989 Ed.]
Solicitors' Practice Rules
[CAP. 159
H 5
[Subsidiary]
the sub-purchasers in the sub-sale and sub-purchase of the unit or interest and in the completion of the sub-sale and sub-purchase if and only if the agreement or agreements for sub-sale and sub-purchase to be entered into by the parties contain such clauses as the Council may, subject to the prior approval of the Chief Justice, from time to time specify for mandatory inclusion in such agreement or agreements.
(6) This rule shall not apply-
(a) if the parties are associated parties;
(b) to a sale or other disposition of land the consideration of which does not exceed $250,000 or such other amount as the Council may, subject to the prior approval of the Chief Justice, from time to time determine, and in respect of which there is no conflict of interest;
(c) to a mortgage of land;
(d) to a lease of land; or
(e) to a sale or other disposition of land in respect of which the contract for sale and purchase was entered into before the commencement of the Solicitors' Practice (Amendment) Rules 1989 (L.N. 154 of 1989).
(7) In this rule-
"associated parties" means 2 parties where-
(a) one party is the holding company of the other party; or
(b) one party is the subsidiary of the other party's holding company; or
(c) the parties are related by blood, adoption or marriage,
and for the purpose of this definition, "holding company" and "subsidiary" have the same meanings as in the Companies Ordinance (Cap.32);
"association" refers to a situation where 2 or more firms of solicitors have at least one common solicitor;
"completed development" includes a development-
(a) in respect of which a temporary occupation permit or an occupation permit has been issued under section 21(2) of the Buildings Ordinance (Cap.123) after 16 August 1945, or which was completed after 16 August 1945; and
(b) in respect of which, where a certificate of compliance is applicable, such certificate has been issued or deemed to have been issued, or the requisite consent to assign has been obtained from the Land Officer;
“land” and “mortgage" have the same meanings as in the Conveyancing and Property Ordinance (Cap.219);
"lease" includes an original or derivative under-lease and an agreement for a lease;
Page 5
Page 6
1989 Ed.]
Solicitors' Practice Rules
[CAP. 159
H 5
[Subsidiary]
the sub-purchasers in the sub-sale and sub-purchase of the unit or interest and in the completion of the sub-sale and sub-purchase if and only if the agreement or agreements for sub-sale and sub-purchase to be entered into by the parties contain such clauses as the Council may, subject to the prior approval of the Chief Justice, from time to time specify for mandatory inclusion in such agreement or agreements.
(6) This rule shall not apply-
(a) if the parties are associated parties;
(b) to a sale or other disposition of land the consideration of which does not exceed $250,000 or such other amount as the Council may, subject to the prior approval of the Chief Justice, from time to time determine, and in respect of which there is no conflict of interest;
(c) to a mortgage of land;
(d) to a lease of land; or
(e) to a sale or other disposition of land in respect of which the contract for sale and purchase was entered into before the commencement of the Solicitors' Practice (Amendment) Rules 1989 (L.N. 154 of 1989).
(7) In this rule-
"associated parties" means 2 parties where-
(a) one party is the holding company of the other party; or
(b) one party is the subsidiary of the other party's holding company;
or
(c) the parties are related by blood, adoption or marriage,
and for the purpose of this definition, "holding company" and "subsidiary" have the same meanings as in the Companies Ordinance (Cap. 32);
"association" refers to a situation where 2 or more firms of solicitors have at
least one common solicitor;
"completed development" includes a development-
(a) in respect of which a temporary occupation permit or an occupation permit has been issued under section 21(2) of the Buildings Ordinance (Cap. 123) after 16 August 1945, or which was completed after 16 August 1945; and
(b) in respect of which, where a certificate of compliance is applicable, such certificate has been issued or deemed to have
been issued, or the requisite consent to assign has been obtained from the Land Officer;
“land” and “mortgage" have the same meanings as in the Conveyancing and
Property Ordinance (Cap. 219);
"lease" includes an original or derivative under-lease and an agreement for a
lease;
Page 5Page 6
No comments yet.
Private notes are available after approval.