【法规名称】
【法规编号】 82283 什么是编号？
【正 文】
第4页 CAP 1161 THE BANK OF TOKYO-MITSUBISHI (MERGER OF SUBSIDIARIES) ORDINANCE
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[接上页] (i) Any judgment or award obtained by or against Mitsubishi Finance and not fully satisfied before the appointed day shall on that day, to the extent to which it is enforceable by or against Mitsubishi Finance, become enforceable by or against BOT International. (j) Nothing in this Ordinance shall terminate or prejudicially affect the appointment, authority, rights or powers of any receiver or of any receiver and manager appointed by Mitsubishi Finance, whether alone or with others, before the appointed day. (Enacted 1996) Cap 1161 s 8 Accounting treatment of BOT International and Mitsubishi Finance (1) On and from the appointed day, by virtue of this Ordinance and notwithstanding the provisions of any other Ordinance- (a) the balance sheets and profit and loss accounts of Mitsubishi Finance and BOT International for the financial year of each company in which the appointed day falls shall be prepared in all respects as if the undertaking had vested in BOT International pursuant to section 5 on the first day of such financial year of Mitsubishi Finance; (b) any retained profits of Mitsubishi Finance as at the first day of such financial year and any reserves arising on the vesting of the property and liabilities of Mitsubishi Finance in BOT International pursuant to section 5 shall become the retained profits of BOT International; (c) every existing reserve of Mitsubishi Finance shall be transferred to and for all purposes be and become a reserve of BOT International; and (d) the amount, description and character of every reserve of BOT International which shall come into being pursuant to paragraph (c) shall be the same in all respects as those of the corresponding existing reserve immediately before the appointed day, and all enactments and rules of law shall apply to or in respect of every such reserve of BOT International in the same manner in all respects as they applied to or in respect of the corresponding existing reserve immediately before the appointed day.(2) Every reference in subsection (1) to an existing reserve shall include a reference to any reserve or similar provision, irrespective of its name or designation (and whether the amount thereof be positive or negative in nature) and, without prejudice to the generality of the foregoing, every such reference shall include a reference to any sums standing to the credit (or debit) of any profit and loss account. (3) Without prejudice to the generality of subsection (1), any profits or losses of Mitsubishi Finance earned or incurred after the beginning of the financial year of Mitsubishi Finance in which the appointed day shall occur, shall on and from the appointed day, by virtue of this Ordinance, be treated for all purposes as profits or, as the case may be, losses, of BOT International. (Enacted 1996) Cap 1161 s 9 Contracts of employment (1) Section 7(a) shall apply to a contract for the employment of any person by Mitsubishi Finance and employment with Mitsubishi Finance and BOT International under any such contract shall be deemed for all purposes to be a single continuing employment. (2) No director or auditor of Mitsubishi Finance shall by virtue only of this Ordinance become a director or, as the case may be, auditor of BOT International. (Enacted 1996) Cap 1161 s 10 Provident funds and gratuity benefits (1) The deeds and rules constituting or relating to the provident fund scheme established for the benefit of employees of Mitsubishi Finance and the gratuity benefits payable by Mitsubishi Finance 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 Mitsubishi Finance there was substituted a reference to BOT International. (2) No officer or employee of Mitsubishi Finance who is deemed to become an officer or employee of BOT International by virtue of this Ordinance shall by virtue of this Ordinance be entitled to participate in any provident fund of or gratuity benefits payable by BOT International, and no existing officer or employee of BOT International shall, by virtue only of this Ordinance, be entitled to participate in any provident fund of or gratuity benefits payable by Mitsubishi Finance. (Enacted 1996) Cap 1161 s 11 Waiver of prohibition of merger (1) Any provision contained in any contract to which either BOT International or, as the case may be, Mitsubishi Finance is a party which prohibits or has the effect of prohibiting the transfer and vesting of the undertaking from Mitsubishi Finance to BOT International shall be deemed by this Ordinance to have been waived. (2) Any provision contained in any contract to the effect that a default shall occur or be deemed to occur as a result of the transfer and vesting of the undertaking from Mitsubishi Finance to BOT International and to which either BOT International or, as the case may be, Mitsubishi Finance is a party shall be deemed by this Ordinance to have been waived. (Enacted 1996) |
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