1964_STANDARD_CHARTERED_ASIA_LIMITED_ORDINANCE — Page 2

1984 Ed.]

Standard Chartered Asia Limited

[CAP. 1136

1

CHAPTER 1136

STANDARD CHARTERED ASIA LIMITED

To provide for the vesting in Standard Chartered Asia Limited of the undertaking of MAIBL Bermuda (Far East) Limited; and for purposes incidental and ancillary thereto.

Originally

74 of 1984.

[9 November 1984.]

1.

This Ordinance may be cited as the Standard Chartered Asia Limited Ordinance.

Short title.

2. (1) In this Ordinance, unless the context otherwise requires-

"the appointed day" means 31 December 1984;

"customer" includes any person having a banking account or other dealing, transaction or arrangement in the course of business with SC Asia or, as the case may be, MBFEL;

"excluded items" means documents required to be kept pursuant to

the provisions of the Companies Ordinance;

"existing" means existing or in force immediately before the

appointed day;

"liabilities" includes duties and obligations of every description wheresoever arising (whether existing or future, actual or contingent), but does not include any excluded item;

“MBFEL” means MAIBL Bermuda (Far East) Limited; “property” means property and assets of every description where- soever situate, and includes property held on trust and securi- ties, rights, benefits and powers of every description, but does not include any excluded item;

"SC Asia" means Standard Chartered Asia Limited; and

"security" includes a mortgage or charge (whether legal or equit- able), debenture, bill of exchange, promissory note, guarantee, lien, pledge (whether actual or constructive), hypothecation, indemnity, undertaking or other means of securing payment or discharge of a debt or liability (whether existing or future, actual or contingent).

(2) For the purposes of this Ordinance—

(a) references to property and liabilities of MBFEL are refer- ences to all such property and liabilities, whether or not capable of being transferred or assigned by MBFEL;

(b) any such reference to property of MBFEL is a reference to property of MBFEL whether situated in Hong Kong or elsewhere; and

Interpretation.

(Cap. 32)