1964_SUPREME_COURT_ORDINANCE — Page 22

1989 Ed.]

Supreme Court

[CAP. 4

21

(3) In deciding whether to make a charging order the High Court shall consider all the circumstances of the case and, in particular, any evidence before it as to--

(a) the personal circumstances of the debtor; and

(b) whether any other creditor of the debtor would be likely to be unduly prejudiced by the making of the order. (Replaced 52 of 1987 s. 13)

(4) This section shall apply to a judgment, order, decree or award however called of any court or arbitrator, including any foreign court or foreign arbitrator, which is or has become enforceable, whether wholly or to a limited extent, as it applies to a judgment or order of the High Court.

20A. Property which may be charged

[cf. 1979 c. 53 s. 1 U.K.]

(1) Subject to subsection (3), a charge may be imposed by a charging order only on-

(a) an interest held by the debtor beneficially-

(i) in any asset of a kind mentioned in subsection (2); or (ii) under any trust; or

(b) an interest held by a person as trustee of a trust (in this paragraph referred to as "the trust"), if the interest is in an asset of a kind mentioned in subsection (2) or is an interest under another trust and-

(i) the judgment or order in respect of which a charge is to be imposed was made against that person as trustee of the trust;

(ii) the whole beneficial interest under the trust is held by the debtor unencumbered and for his own benefit; or

(iii) in a case where there are 2 or more debtors all of whom are liable to the creditor for the same debt, they together hold the whole beneficial interest under the trust unencumbered and for their own benefit.

(2) The assets referred to in subsection (1) are--

(a) land;

(b) securities of any of the following kinds--

(i) Government stock;

(ii) stock of any body incorporated in Hong Kong;

(iii) stock of any body incorporated outside Hong Kong or of any state or territory outside Hong Kong, being stock registered in a register kept at any place within Hong Kong;

(iv) units of any unit trust in respect of which a register of the unit holders is kept at any place within Hong Kong; or

(c) funds in court.