【法规名称】
【法规编号】 82273 什么是编号？
【正 文】
第4页 CAP 1171 CITIC KA WAH BANK LIMITED (MERGER) ORDINANCE
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[接上页] (f) The custody of any document or record, goods or other thing held by CITIC Ka Wah Bank as bailee shall pass to Hongkong Chinese Bank on the appointed day, and the rights and obligations of CITIC Ka Wah Bank under any contract of bailment relating to any such document or record, goods or thing shall on that day become rights and obligations of Hongkong Chinese Bank. (g) (i) Any security interest held immediately before the appointed day by CITIC Ka Wah Bank, or by a nominee or agent of or trustee for CITIC Ka Wah Bank, as security for the payment or discharge of any liability shall, on and from the appointed day, be held by, or, as the case may require, by that nominee, agent or trustee for, Hongkong Chinese Bank, and be available to Hongkong Chinese Bank (whether for its own benefit or for the benefit of any other person) as security for the payment or discharge of that liability. (ii) In relation to any security interest vested or deemed to be vested in Hongkong Chinese Bank in accordance with the provisions of this Ordinance and any liability thereby secured, Hongkong Chinese Bank shall be entitled to the rights and priorities and be subject to the obligations and incidents to which CITIC Ka Wah Bank would have been entitled and subject if it had continued to hold the security interest. (iii) Without prejudice to the generality of subparagraph (ii), in any case where any existing liability subsists between CITIC Ka Wah Bank and Hongkong Chinese Bank in respect of which CITIC Ka Wah Bank or Hongkong Chinese Bank, or a nominee or agent of or trustee for CITIC Ka Wah Bank or Hongkong Chinese Bank holds a security interest, that liability shall, for the purpose of enforcing or realizing that security interest, be deemed to continue in effect notwithstanding the vesting of the undertaking in Hongkong Chinese Bank. (iv) Any security interest referred to in subparagraph (i), (ii) or (iii) and which extends to future advances or liabilities shall, on and from the appointed day, be available to Hongkong Chinese Bank (whether for its own benefit or for the benefit of any other person) as security for the payment or discharge of future advances and liabilities to the same extent and in the same manner in all respects as future advances by, or liabilities to, CITIC Ka Wah Bank or Hongkong Chinese Bank were secured thereby immediately before that day. (v) Notwithstanding subparagraph (i), where immediately before the appointed day any security interest would not be available to Hongkong Chinese Bank as security for the payment or discharge of any liability owing to it, or to CITIC Ka Wah Bank as security for the payment or discharge of any liability owing to it, such security interest shall not become available to Hongkong Chinese Bank as security for such liability on and from the appointed day by virtue of this Ordinance, unless- (A) the terms of such security interest expressly provide otherwise; (B) Hongkong Chinese Bank obtains the written consent of the person or persons who granted such security interest; or (C) such security interest arises at general law.(vi) Notwithstanding subparagraph (ii), where immediately before the appointed day, Hongkong Chinese Bank would not, in respect of any liability owing to it, be entitled to the rights and priorities in relation to any security interest then in existence, or CITIC Ka Wah Bank would not, in respect of any liability owing to it, be entitled to the rights and priorities in relation to any security interest then in existence, Hongkong Chinese Bank shall not, in respect of such liability, be entitled to such rights and priorities on and from the appointed day by virtue of this Ordinance, unless- (A) the terms of such security interest expressly provide otherwise; (B) Hongkong Chinese Bank obtains the written consent of the person or persons who granted such security interest; or (C) such security interest arises at general law.(h) (i) Where by virtue of this Ordinance any right or liability of CITIC Ka Wah Bank becomes or is deemed to become a right or liability of Hongkong Chinese Bank, Hongkong Chinese Bank and all other persons shall, on and from the appointed day, have the same rights, powers and remedies (and in particular the same rights and powers as to taking or resisting legal proceedings or making or resisting applications to any authority) for ascertaining, perfecting or enforcing that right or liability as if it had at all times been a right or liability of Hongkong Chinese Bank; and any legal proceedings or application to any authority existing or pending immediately before the appointed day by or against CITIC Ka Wah Bank may be continued by or against Hongkong Chinese Bank. (ii) Where any right or liability of CITIC Ka Wah Bank was before the appointed day the subject of arbitral proceedings to which CITIC Ka Wah Bank was a party, Hongkong Chinese Bank shall on and from the appointed day automatically be substituted for CITIC Ka Wah Bank as a party to those proceedings, without the need for consent from any other party or from the arbitrator.(i) Any judgment or award obtained by or against CITIC Ka Wah Bank and not fully satisfied before the appointed day shall on that day, to the extent to which it is enforceable by or against CITIC Ka Wah Bank, become enforceable by or against Hongkong Chinese Bank. |
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