1985 Ed.]
Trustee
[CAP. 29
51
duties entrusted to him, be personally responsible to the court and be subject to the process of the court, as though he had been personally appointed to such office.
98. (1) Any director, officer or servant of a trust company who wilfully and with intent to defraud neglects to make any entry in the books of the company which it is his duty to make shall be guilty of a misdemeanor.
(2) Any director, officer or servant of a trust company, who wilfully and with intent to defraud makes or abets the making of any false entry in the books of the company, or subscribes or exhibits any false document with intent to deceive any person appointed under this Part to investigate the affairs and management of the company shall be guilty of a misdemeanor.
(3) Any director, officer or servant of a trust company who refuses to produce for examination to any person appointed under this Part to investigate the affairs and management of the company all books and documents relevant to such investigation which are in his custody or control shall be guilty of a misdemeanor.
(Amended, 23 of 1975, s. 5)
99. No trust company shall be appointed to be guardian of the person of an infant or committee of the person of a lunatic.
100. (1) No member of a trust company shall at any time hold shares in the capital of the company to an amount exceeding one-fifth of the issued capital of the company for the time being.
(2) Subsection (1) does not apply to a trust company that is the subsidiary of a bank licensed under section of the Banking Ordinance.
(Added, 23 of 1975, s. 6)
(3) For the purposes of subsection (2) of this section, section 2(4), (5) and (6) of the Companies Ordinance shall apply as if each reference in those subsections to "a company" or "the first-mentioned company" were read as a reference to a trust company and as if each reference in those subsections to "another company" or "other company" were read as a reference to a bank licensed under section of the Banking Ordinance.
(Added, 23 of 1975, s. 6)
101. So long as any estate in respect of which a trust company is trustee shall remain in whole or in part unadministered, it shall not be lawful to proceed to wind up the company voluntarily, unless with the sanction of the court, and it shall be lawful for any person interested in such estate, or who may have any claim in respect thereof, to apply to the court in a summary way by motion to restrain any director or any shareholder from disposing of any shares which such director or shareholder may hold in the company or to restrain the winding up voluntarily of the company; and the court shall have power to make such order as it deems just.
Offences.
Not to be guardian or committee.
Restriction on holding shares in
a trust company.
(Cap. 155.)
(Cap. 32.)
(Cap. 155.)
Voluntary winding-up or disposal may be restrained.
1985 Ed.]
Trustee
[CAP. 29
51
duties entrusted to him, be personally responsible to the court and be subject to the process of the court, as though he had been personally appointed to such office.
98. (1) Any director, officer or servant of a trust company who wilfully and with intent to defraud neglects to make any entry in the books of the company which it is his duty to make shall be guilty of a misdemeanor.
(2) Any director, officer or servant of a trust company, who wilfully and with intent to defraud makes or abets the making of any false entry in the books of the company, or subscribes or exhibits any false document with intent to deceive any person appointed under this Part to investigate the affairs and management of the company shall be guilty of a misdemeanor.
(3) Any director, officer or servant of a trust company who refuses to produce for examination to any person appointed under this part to investigate the affairs and management of the company all books and documents relevant to such investigation which are in his custody or control shall be guilty of a misdemeanor.
( Amended, 23 of 1975, s. 5)
99. No trust company shall be appointed to be guardian of the person of an infant or committee of the person of a lunatic.
100. (1) No member of a trust company shall at any time hold shares in the capital of the company to an amount exceeding one- fifth of the issued capital of the company for the time being.
(2) Subsection (1) does not apply to a trust company that is the subsidiary of a bank licensed under section of the Banking Ordinance.
16 { Added, 23 of 1975, s. 6)
(3) For the purposes of subsection (2) of this section, section 2(4), (5) and (6) of the Companies Ordinance shall apply as if each reference in those subsections to "a company" or "the first- mentioned company" were read as a reference to a trust company and as if each reference in those subsections to "another company" or "other company" were read as a reference to a bank licensed under section of the Banking Ordinance. Added, 23 of 1975, s. 6)
( 16
101. So long as any estate in respect of which a trust company is trustee shall remain in whole or in part unadministered, it shall not be lawful to proceed to wind up the company voluntarily, unless with the sanction of the court, and it shall be lawful for any person interested in such estate, or who may have any claim in respect thereof, to apply to the court in a summary way by motion to restrain any director or any shareholder from disposing of any shares which such director or shareholder may hold in the company or to restrain the winding up voluntarily of the company; and the court shall have power to make such order as it deems just.
Offences.
Not to be guardian or committee.
Restriction on holding shares in
a trust company.
27819865137
(Cap. 155.
(Cap. 32.)
(Cap. 155.)
Voluntary winding-up or disposal may be restrained.
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