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[接上页] (2) Where the transfer and vesting of any property and liabilities is governed otherwise than by the laws of Hong Kong, the transferring entity in question shall, if Standard Chartered Bank (Hong Kong) so requires, so soon as is practicable after the appointed day, take all necessary steps for securing the effective transfer and vesting thereof in Standard Chartered Bank (Hong Kong) and, pending such transfer and vesting, the transferring entity in question shall hold any such property and liabilities in trust absolutely for Standard Chartered Bank (Hong Kong). Cap 1174 s 6 Trust property (1) Any property vested or deemed to be vested in Standard Chartered Bank (Hong Kong) by virtue of this Ordinance which immediately prior to the appointed day was held by a transferring entity, whether alone or jointly with any other person, as trustee or custodian trustee of any trust deed, settlement, covenant, agreement or other instrument (whether originally so appointed or not, and whether appointed under hand or seal, or by order of any court or otherwise), or as executor of the will, or administrator of the estate, of a deceased person or as judicial trustee appointed by order of any court, or in any other fiduciary capacity, shall, on and from the appointed day, be held by Standard Chartered Bank (Hong Kong) alone or, as the case may be, jointly with such other person, in the same capacity upon the trusts, and with and subject to the powers, provisions and liabilities, applicable thereto respectively. (2) Any existing instrument or order of any court under or by virtue of which any property forming part of the undertakings became vested in a transferring entity, in any such fiduciary capacity as is referred to in subsection (1), and any provision in such instrument or order, or any existing contract or arrangement, for the payment to, or retention by, a transferring entity of remuneration for its services in any such fiduciary capacity, shall, on and from the appointed day, be construed and have effect, so far as the context permits, as if for any reference therein to the transferring entity not being a reference (however worded and whether express or implied) to terms and conditions of, or to a scale of fees of, the transferring entity, there were substituted a reference to Standard Chartered Bank (Hong Kong) provided always that this subsection shall not prevent Standard Chartered Bank (Hong Kong) from varying the remuneration or scale of fees payable in accordance with the terms of the relevant instrument or order. Cap 1174 s 7 Issue of legal tender notes (1) Subject to the Financial Secretary (with the approval of the Chief Executive in Council)— (a) by notice in writing authorizing Standard Chartered Bank (Hong Kong) to issue bank notes under section 3(2) of the Legal Tender Notes Issue Ordinance (Cap 65) with effect from the appointed day; and (b) by notice in the Gazette amending the Schedule to the Legal Tender Notes Issue Ordinance (Cap 65) in accordance with section 6 of that Ordinance by repealing "2. Standard Chartered Bank." from that Schedule and substituting "2. Standard Chartered Bank (Hong Kong) Limited." with effect from the appointed day,Standard Chartered shall cease to be a note-issuing bank and Standard Chartered Bank (Hong Kong) shall become a note-issuing bank, in each case with effect from the appointed day. (2) Subject to Standard Chartered Bank (Hong Kong) becoming a note-issuing bank in accordance with subsection (1) and without prejudice to the provisions of the Legal Tender Notes Issue Ordinance (Cap 65)— (a) all legal tender notes issued by Standard Chartered prior to the appointed day shall on and from the appointed day by virtue of this Ordinance and without further act or deed be transferred to, and vest in, Standard Chartered Bank (Hong Kong) to the intent that Standard Chartered Bank (Hong Kong) shall succeed to such legal tender notes as if in all respects Standard Chartered Bank (Hong Kong) were the same person in law as Standard Chartered, and such legal tender notes shall be deemed to have been issued by Standard Chartered Bank (Hong Kong) who shall on and from the appointed day be liable to pay the bearer of such legal tender notes on demand at its office in Hong Kong; (b) all bank notes of Standard Chartered which had they been issued by Standard Chartered prior to the appointed day would have constituted legal tender notes of Standard Chartered shall on the appointed day by virtue of this Ordinance and without further act or deed be transferred to, and vest in, Standard Chartered Bank (Hong Kong) to the intent that Standard Chartered Bank (Hong Kong) shall succeed to such bank notes as if in all respects Standard Chartered Bank (Hong Kong) were the same person in law as Standard Chartered; (c) Standard Chartered Bank (Hong Kong) shall, subject to any terms and conditions specified by the Financial Secretary in accordance with section 3(2) of the Legal Tender Notes Issue Ordinance (Cap 65), on and from the appointed day by virtue of this Ordinance have the power to produce, store, distribute and issue in the name of Standard Chartered bank notes using the same designs or such other designs which Standard Chartered Bank (Hong Kong) shall receive prior written approval from the Financial Secretary and in the same denominations as Standard Chartered was authorized to issue immediately prior to the appointed day; |