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　　(e) Each negotiable instrument or order for payment of money drawn on or given to, or accepted or endorsed by, MEFIL, or payable at any place of business of MEFIL, whether so drawn, given, accepted or endorsed before, or on the appointed day, shall have the same effect on and from the appointed day, as if it had been drawn on, or given to, or accepted or endorsed by Emirates Bank, or were payable at the same place of business of Emirates Bank.
　　
　　(f) The custody of each document or record, goods or other thing held by MEFIL as bailee shall pass to Emirates Bank on the appointed day, and the rights and obligations of MEFIL under each contract of bailment relating to any such document or record, goods or thing shall on that day become rights and obligations of Emirates Bank.
　　
　　(g) (i) Each security held immediately before the appointed day by MEFIL, or by a nominee or agent of or trustee for MEFIL, 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, Emirates Bank, and be available to Emirates Bank (whether for its own benefit or, as the case may be, for the benefit of any other person) as security for the payment or discharge of that liability;
　　
　　(ii) in relation to each security vested in Emirates Bank in accordance with the provisions of this Ordinance and the liabilities thereby secured, Emirates Bank shall be entitled to the rights and priorities and be subject to the obligations and incidents to which MEFIL would have been entitled and subject if it had continued to hold the security;
　　
　　(iii) without prejudice to the generality of subparagraph (ii), in any case where an existing liability subsists between MEFIL and Emirates Bank in respect of which MEFIL or Emirates Bank, or a nominee or agent of or trustee for MEFIL or Emirates Bank holds security, that liability shall, for the purpose of enforcing or realising that security, be deemed to continue in effect notwithstanding the vesting of the undertaking in Emirates Bank;
　　
　　(iv) any security 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 Emirates Bank (whether for its own benefit or, as the case may be, 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, MEFIL or, as the case may be, Emirates Bank were secured thereby immediately before that day.(h) Where by virtue of this Ordinance any right or liability of MEFIL is deemed to become a right or liability of Emirates Bank, Emirates 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 Emirates Bank; and any legal proceedings or application to any authority existing or pending immediately before the appointed day by or against MEFIL may be continued by or against Emirates Bank.
　　
　　(i) Each judgment or award obtained by or against MEFIL and not fully satisfied before the appointed day shall on that day, to the extent to which it is enforceable by or against MEFIL, become enforceable by or against Emirates Bank.
　　
　　(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 MEFIL, whether alone or with others, before the appointed day.
　　
　　(Enacted 1992)
　　
　　Cap 1154 s 8 Accounting treatment of MEFIL and Emirates Bank
　　
　　(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 MEFIL and Emirates Bank for the accounting period of each company in which the appointed day falls shall be prepared in all respects as if the undertaking had vested in Emirates Bank pursuant to section 5 on the first day of such accounting period of MEFIL;
　　
　　(b) every existing provision against assets of MEFIL shall be transferred to and for all purposes be and become a provision against assets of Emirates Bank; and
　　
　　(c) the amount, description and character of every provision of Emirates Bank which shall come into being pursuant to paragraph (b) shall be the same in all respects as those of the corresponding existing provision immediately before such appointed day, and all enactments and rules of law shall apply to or in respect of every such provision of Emirates Bank in the same manner in all respects as they applied to or in respect of the corresponding existing provision immediately before the appointed day.(2) Every reference in subsection (1) to an existing provision shall include a reference to any such provision, irrespective of its name or designation including the obligation account of MEFIL but not including any sums standing to the credit (or debit) of any profit and loss account or general reserves.

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