Contents of Section

Chapter:

379 PDFTitle:OVERSEAS TRUST BANK (ACQUISITION) ORDINANCEGazette Number:
Section:4Heading:Continued use of property etc.Version Date:30/06/1997

(1) Where immediately before commencement any property, facility or service, not being the property of or provided by the company or any subsidiary thereof, was being used, enjoyed or employed by the company or any of its subsidiaries in the carrying on of its business, the company and its subsidiaries may continue, notwithstanding any agreement to the contrary, to use, enjoy or employ such property, facility or service upon the same terms and conditions, subject to section 6(3), as were applicable before commencement. (Amended 80 of 1993 s. 3)
(2) Subsection (1) shall cease to have effect on the commencement of the Overseas Trust Bank (Acquisition) (Amendment) Ordinance 1993 (80 of 1993). (Added 80 of 1993 s. 3)
(3) Section 23 of the Interpretation and General Clauses Ordinance (Cap 1) applies to the cessation to have effect of subsection (1) by virtue of subsection (2) and for this purpose, such cessation shall be regarded as the repeal of subsection (1) by subsection (2). (Added 80 of 1993 s. 3)

(Enacted 1985)