Hong Kong Ordinances

CITIC KA WAH BANK LIMITED (MERGER) ORDINANCE - SECT 6

Trust property and wills

(1) Any property vested in Hongkong Chinese Bank by virtue of this Ordinance
which immediately before the appointed day was held by CITIC Ka  Wah Bank,
whether alone or jointly with any other person, as trustee or custodian
trustee of any trust deed, settlement, covenant, agreement, will or other
instrument (whether originally so appointed or not, and whether appointed
under hand or seal, or by order of any court or otherwise), or as executor of
the will, or administrator of the estate, of a deceased person or as judicial
trustee appointed by order of any court, or in any other fiduciary capacity,
shall, on and from the appointed day, be held by Hongkong Chinese Bank alone
or, as the case may be, jointly with such other person, in the same capacity
upon the trusts, and with and subject to the powers, provisions and
liabilities, applicable thereto respectively.

(2) Any existing instrument or order of any court under or by virtue of which
any property forming part of the undertaking became vested in
CITIC Ka Wah Bank, in any such fiduciary capacity as is referred to in
subsection (1) (including in the case of a will any grant of probate thereof),
and any provision in such instrument or order, or any existing contract or
arrangement, for the payment to, or retention by, CITIC Ka Wah  Bank of
remuneration for its services in any such fiduciary capacity, 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 CITIC Ka Wah  Bank not being a
reference (however worded and whether express or implied) to terms and
conditions of, or to a scale of fees of, CITIC Ka Wah Bank, there were
substituted a reference to Hongkong Chinese Bank provided always that this
subsection shall not prevent Hongkong Chinese Bank from varying the
remuneration or scale of fees payable in accordance with the terms of the
relevant instrument or order.

(3) Any will made before the appointed day which has not been proved in Hong
Kong before the appointed day, and any will made on or after the
appointed day, being a will forming part of the undertaking which appoints
CITIC Ka Wah Bank to be an executor, trustee or recipient of any property as
trustee, shall, on and from the appointed day, be construed and have effect as
if for any reference therein to CITIC Ka Wah  Bank as such executor, trustee
or recipient or otherwise in connection with such appointment, not being a
reference (however worded and whether express or implied) to terms and
conditions of, or to a scale of fees of, CITIC Ka Wah Bank, there were
substituted a reference to Hongkong Chinese  Bank.

(4) No testamentary gift shall be adeemed by reason only of the operation of
any of the provisions of this Ordinance.