### Mass Transit Railway Ordinance 《香港鐵路條例》

52. MTRC to continue in existence until dissolved
(1) Despite the repeal effected by section 64, MTRC continues in existence after the appointed day until it is dissolved in accordance with subsection (3), and in this section the period of that continued existence is referred to as the transitional period.
(2) During the transitional period, and despite the repeal effected by section 64—
(a) sections 4 and 9 of the repealed Ordinance, modified as set out in Schedule 1, continue to have effect to and in relation to MTRC;
(b) section 16 of the repealed Ordinance continues to apply in relation to the preparation and auditing of accounts in respect of the last complete financial year of MTRC, and MTRC shall prepare those accounts in accordance with that section,
as if section 64 had not been enacted.
(3) As soon as he is satisfied that nothing further remains to be done by MTRC under this Ordinance, and after consulting MTRC and the Corporation, the Secretary for Transport may, by notice published in the Gazette, dissolve MTRC on a day he specifies in the notice. (Amended L.N. 106 of 2002)
(4) The costs and expenses arising from the continuation of MTRC under this section and incurred by MTRC shall be borne by the Corporation.

### Mass Transit Railway Ordinance 《香港鐵路條例》

52A. Interpretation of Part IXA
In this Part—
contract (合約) includes any agreement, bond, guarantee or security made or given orally, in writing, by deed, by conduct or otherwise;
liabilities (法律責任) includes obligations;

relevant date (有關日期)—
(a) in relation to a contract or a contract of a class of contracts specified in a Vesting Notice, means the date specified in the Vesting Notice for the purposes of section 52B(1);
(b) in relation to a contract or a contract of a class of contracts specified in a Re-vesting Notice, means the date specified in the Re-vesting Notice for the purposes of section 52C(1);
(c) in relation to a contract or document to which section 52D or 52E applies, means the Merger Date;
(d) in relation to any security to which section 52F applies, means the date on which the rights in respect of which the security is held are vested in the Corporation or KCRC under section 52B or 52C (as the case may be);

relevant rights and liabilities (有關的權利及法律責任), in relation to a contract or document to which section 52B, 52D, 52E or 52F(1) applies, means the rights and liabilities vested in the Corporation under section 52B, 52D, 52E or 52F(1) (as the case may be);
Re-vesting Notice (再轉歸公告) means a notice made by the Secretary under section 52C(3);
security (抵押) means any interest, legal or equitable, by means of which the payment or discharge of a debt or liability (whether present or future, actual or contingent) is secured, whether or not that interest is evidenced in writing;
Vesting Notice (轉歸公告) means a notice made by the Secretary under section 52B(3).

### Mass Transit Railway Ordinance 《香港鐵路條例》

52B. Vesting of certain contractual rights and liabilities of KCRC in Corporation
(1) Where a contract or a class of contracts is specified in a Vesting Notice—
(a) the rights which are exercisable by KCRC at any time on or after the relevant date under the terms of the contract or a contract of the class of contracts; and
(b) the liabilities which are to be discharged by KCRC at any time on or after the relevant date under the terms of the contract or a contract of the class of contracts,
shall vest in the Corporation by virtue of this subsection on that date.
(2) Where a right is exercisable by KCRC before, on and after the relevant date under the terms of a contract or a contract of a class of contracts specified in a Vesting Notice, subsection (1) does not apply to the right which is exercisable by KCRC in respect of the period before the relevant date.
(3) The Secretary may make a Vesting Notice for the purposes of subsection (1).
(4) A Vesting Notice made under subsection (3) shall be published in the Gazette as a general notice.

52C. Re-vesting of certain contractual rights and liabilities in KCRC
(1) Where a contract or a class of contracts which has been specified in a Vesting Notice is specified in a Re-vesting Notice—
(a) the rights which are exercisable by the Corporation at any time on or after the relevant date under the terms of the contract or a contract of the class of contracts; and
(b) the liabilities which are to be discharged by the Corporation at any time on or after the relevant date under the terms of the contract or a contract of the class of contracts,
shall vest in KCRC by virtue of this subsection on that date.
(2) Where a right is exercisable by the Corporation before, on and after the relevant date under the terms of a contract or a contract of a class of contracts specified in a Re-vesting Notice, subsection (1) does not apply to the right which is exercisable by the Corporation in respect of the period before the relevant date.
(3) The Secretary may make a Re-vesting Notice for the purposes of subsection (1) where—
(a) the franchise is revoked under section 18;
(b) that part of the franchise relating to the KCRC Railways is revoked under section 18;
(c) the franchise has expired and has not been extended under section 5; or
(d) both KCRC and the Corporation agree that it is necessary to make a Re-vesting Notice.
(4) A Re-vesting Notice made under subsection (3) shall be published in the Gazette as a general notice.

### Mass Transit Railway Ordinance 《香港鐵路條例》

52D. Employment contracts
(1) All rights and liabilities to which KCRC was entitled or subject immediately before the relevant date under any contract of employment entered into with KCRC which was in force immediately before the relevant date shall vest in the Corporation by virtue of this subsection on that date.
(2) Employment with KCRC and the Corporation under a contract of employment to which subsection (1) applies is deemed for all purposes to be a single continuing employment.
(3) No member of the managing board of KCRC or auditor of KCRC becomes by virtue only of subsection (1) a director or auditor of the Corporation.

52E. Pension fund schemes, etc.
(1) All rights and liabilities to which KCRC was entitled or subject immediately before the relevant date under any specified instrument shall vest in the Corporation by virtue of this subsection on that date.
(2)  In subsection (1), specified instrument (指明文書) means any contract or other document—
(a) which—
(i) constitutes or relates to any pension fund scheme, provident fund scheme or any other retirement benefits scheme established for the benefit of employees of KCRC; or
(ii) relates to any gratuity benefits payable by KCRC; and
(b) which was in force immediately before the relevant date.