Chapter:	345	Title:	HANG LUNG BANK (ACQUISITION) ORDINANCE	Gazette Number:
Section:	6	Heading:	Safeguarding assets and avoidance of certain transactions	Version Date:	30/06/1997

(1)-(2) (Repealed 61 of 1990 s. 5)
(3) Where the company or any subsidiary thereof has, after 1 September 1982 and before commencement entered into a transaction which, in the opinion of the Financial Secretary was of such a nature as, and at the time it was entered into, could reasonably have been foreseen by the company or the subsidiary to be likely-

(a) to cause a loss to the company or the subsidiary; or
(b) to impose a liability on it substantially greater than any benefit to it,

(i) was both an unusual transaction for the company or the subsidiary to enter into, having regard to the business of the company or the subsidiary and not reasonably necessary for the purpose of that business having regard to the circumstances at that time; or
(ii) was a transaction entered into otherwise than in the ordinary course of the company's or subsidiary's business and on such terms or with such a party as to indicate an unreasonable lack of prudence on the part of the company, or the subsidiary, having regard to the circumstances at the time of the transaction;