### Hang Lung Bank (Acquisition) Ordinance 《恒隆銀行(接收)條例》

6. Safeguarding assets and avoidance of certain transactions
(1)-(2) (Repealed 61 of 1990 s. 5)(3) Where the company or any subsidiary thereof has, after 1 September 1982 and before commencement entered into a transaction which, in the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,
and which, in the opinion of the Financial Secretary either—
(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;
and, on commencement, the transaction remains in whole or in part unperformed or unexpired, the company or subsidiary shall, if so directed by the Financial Secretary, by notice in writing given to the other parties to the transaction disclaim that transaction.
(4) Where a notice of disclaimer is given under subsection (3) with respect to an agreement or lease the agreement shall be deemed to be frustrated or, as the case may be, the lease shall be deemed to be surrendered, on the date on which the notice of disclaimer becomes final, and for that reason the parties thereto shall be deemed to be discharged from the further performance of their obligations under the agreement or lease.
(5) Where an agreement is deemed to be frustrated by virtue of subsection (4), section 17 of the Law Amendment and Reform (Consolidation) Ordinance (Cap. 23) shall not apply to that agreement.

### Hang Lung Bank (Acquisition) Ordinance 《恒隆銀行(接收)條例》

8. Compensation
(1) (Repealed 61 of 1990 s. 6)(2) Any person who suffers loss by reason of the operation of section 4, the cessation of any right under section 5(1) or the disclaimer of a transaction under section 6(3) shall, subject to any regulations under section 9 read with subsection (3), be entitled to compensation in respect of such loss.
(3) The following matters may be prescribed—
(a) the manner of determining the amount of compensation payable under subsection (2); (Amended 61 of 1990 s. 6)
(b) the factors to be taken into account or disregarded, and the principles to be applied in determining such amount;
(c) the time and manner of payment of such compensation;
(d) whether and what interest shall be payable in respect of such compensation;
(e) the denial of compensation under subsection (2) to any former director who has engaged in any transaction which could be disclaimed under section 6(3) if it were in whole or in part unperformed or unexpired; (Amended 61 of 1990 s. 6)
(f) any matter incidental to the matters specified in subsection (2) or paragraphs (a) to (e). (Amended 61 of 1990 s. 6)

9. Power to make regulations
(1) The Chief Executive in Council may make regulations— (Amended 60 of 1999 s. 3)
(a) prescribing anything that may be prescribed under this Ordinance;
(b) (Repealed 61 of 1990 s. 5)(c) providing for the better carrying into effect of the purposes and provisions of this Ordinance.
(2) Regulations under subsection (1) may make provision for the matters mentioned in that subsection and shall have effect notwithstanding anything to the contrary in the Companies Ordinance (Cap. 622), Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32), the Banking Ordinance (Cap. 155) and the articles of association of the company or any subsidiary thereof. (Amended 27 of 1986 s. 137; 28 of 2012 ss. 912 & 920)

### Building Management Ordinance 《建築物管理條例》

1. Short title
This Ordinance may be cited as the Building Management Ordinance.
(Amended 27 of 1993 s. 3)

### Building Management Ordinance 《建築物管理條例》

2B. References to majority of votes
For the avoidance of doubt, in determining whether a resolution is passed by a majority of the votes of owners, or members of a management committee, at a meeting convened under this Ordinance, the following shall be disregarded—
(a) owners or members, as the case may be, who are not present at the meeting;
(b) owners or members, as the case may be, who are present at the meeting but do not vote;
(c) blank or invalid votes;
(d) abstentions.
(Added 5 of 2007 s. 4)

### Building Management Ordinance 《建築物管理條例》

6. Composition and procedure of management committee
Schedule 2 shall have effect with respect to the composition and procedure of a management committee.
(Amended 27 of 1993 s. 42; 5 of 2007 s. 44)

### Building Management Ordinance 《建築物管理條例》

7. Application by management committee for registration of owners as a corporation
(1) A management committee appointed under section 3, 3A, 4 or 40C shall within 28 days of such appointment apply to the Land Registrar for the registration of the owners as a corporation under this Ordinance. (Amended 8 of 1993 s. 3)
(2) An application under subsection (1) shall be in such form as the Land Registrar may specify and shall include the following particulars— (Amended 8 of 1993 s. 3)
(a) the name of the proposed corporation, which shall be in the form “The Incorporated Owners of . ”; (Description of building)
(b) the name (if any) and address of the building;
(c) the address of the proposed registered office of the corporation; and
(d) the name and address of the chairman and secretary of the management committee.
(3) An application under subsection (1) shall be accompanied by the following documents—
(a) a copy of the deed of mutual covenant (if any) in respect of the building;
(aa) where an application has been made to the Authority under section 3A(1), a copy of the order of the Authority; (Added 27 of 1993 s. 9)
(b) where an application has been made to the tribunal under section 4(1) or 40C, a copy of the order of the tribunal;
(c) a copy of the resolution or other document evidencing the appointment of the management committee under section 3, 3A, 4 or 40C certified as correct by the chairman or secretary of the management committee or by the chairman of the meeting at which the resolution was passed; (Amended 5 of 2007 s. 10)
(d) a declaration by the chairman or secretary of the management committee, in such form as the Land Registrar may specify, that the provisions of section 3, 3A, 4 or 40C and relevant provisions in section 5B have been complied with; and (Amended 8 of 1993 s. 3; 5 of 2007 s. 10)
(e) a statement by each member of the management committee appointed under paragraph 2(1)(b) of Schedule 2, in such form as the Land Registrar may specify, that he does not fall within the description of paragraph 4(1)(a) or (b) of that Schedule. (Added 5 of 2007 s. 10. Amended 18 of 2014 s. 55)
(Amended 27 of 1993 ss. 9 & 42; 69 of 2000 s. 8)