### Limitation Ordinance 《時效條例》

19. Limitation of action to recover money secured by a mortgage or charge or to recover proceeds of the sale of land
(1) No action shall be brought to recover any principal sum of money secured by a mortgage or other charge on property, or to recover proceeds of the sale of land, after the expiration of 12 years from the date when the right to receive the money accrued. (Amended 31 of 1991 s. 8)
(2)  No foreclosure action in respect of mortgaged personal property shall be brought after the expiration of 12 years from the date on which the right to foreclose accrued: (Amended 31 of 1991 s. 8)
Provided that if, after that date the mortgagee was in possession of the mortgaged property, the right to foreclose on the property which was in his possession shall not, for the purposes of this subsection, be deemed to have accrued until the date on which his possession discontinued. 
(3) The right to receive any principal sum of money secured by a mortgage or other charge and the right to foreclose on the property subject to the mortgage or charge shall not be deemed to accrue so long as that property comprises any future interest or any life insurance policy which has not matured or been determined.
(4) Nothing in this section shall apply to a foreclosure action in respect of mortgaged land, but the provisions of this Ordinance relating to actions to recover land shall apply to such an action.
(5)  No action to recover arrears of interest payable in respect of any sum of money secured by a mortgage or other charge or payable in respect of proceeds of the sale of land, or to recover damages in respect of such arrears, shall be brought after the expiration of 6 years from the date on which the interest became due:

Provided that—
(a) where a prior mortgagee or other incumbrancer has been in possession of the property charged, and an action is brought within 1 year of the discontinuance of such possession by the subsequent incumbrancer, he may recover by that action all the arrears of interest which fell due during the period of possession by the prior incumbrancer or damages in respect thereof, notwithstanding that the period exceeded 6 years;
(b) where the property subject to the mortgage or charge comprises any future interest or life insurance policy and it is a term of the mortgage or charge that arrears of interest shall be treated as part of the principal sum of money secured by the mortgage or charge, interest shall not be deemed to become due before the right to receive the principal sum of money has accrued or is deemed to have accrued.

(6) This section shall not apply to any mortgage or charge on a ship.
[cf. 1939 c. 21 s. 18 U.K.]

### Limitation Ordinance 《時效條例》

20. Limitation of actions in respect of trust property
(1) No period of limitation prescribed by this Ordinance shall apply to an action by a beneficiary under a trust, being an action—
(a) in respect of any fraud or fraudulent breach of trust to which the trustee was a party or privy; or
(b) to recover from the trustee trust property or the proceeds thereof in the possession of the trustee, or previously received by the trustee and converted to his use.
(2)  Subject as aforesaid, an action by a beneficiary to recover trust property or in respect of any breach of trust, not being an action for which a period of limitation is prescribed by any other provision of this Ordinance, shall not be brought after the expiration of 6 years from the date on which the right of action accrued:
Provided that the right of action shall not be deemed to have accrued to any beneficiary entitled to a future interest in the trust property, until the interest fell into possession. 
(3) No beneficiary as against whom there would be a good defence under this Ordinance shall derive any greater or other benefit from a judgment or order obtained by any other beneficiary than he could have obtained if he had brought the action and this Ordinance had been pleaded in defence.
[cf. 1939 c. 21 s. 19 U.K.]

21. Limitation of actions claiming personal estate of a deceased person
Subject to the provisions of section 20(1), no action in respect of any claim to the personal estate of a deceased person or to any share or interest in such estate, whether under a will or on intestacy, shall be brought after the expiration of 12 years from the date when the right to receive the share or interest accrued, and no action to recover arrears of interest in respect of any legacy, or damages in respect of such arrears, shall be brought after the expiration of 6 years from the date on which the interest became due.
[cf. 1939 c. 21 s. 20 U.K.]

### Limitation Ordinance 《時效條例》

22A. Extension for cases where the limitation period is the period under section 31(4)(b)
(1) Subject to subsection (2), if in the case of any action for which a period of limitation is prescribed by section 31—
(a) the period applicable in accordance with section 31(4) is the period mentioned in section 31(4)(b);
(b) on the date which is for the purposes of that section the date of knowledge, the person by reference to whose knowledge that date fell to be determined under section 31(1) was under a disability; and
(c) section 22 does not apply to the action,
the action may be brought at any time before the expiration of 3 years from the date when he ceased to be under a disability or died (whichever first occurred) notwithstanding that the period mentioned above has expired.
(2) An action may not be brought by virtue of subsection (1) after the end of the period of limitation prescribed by section 32.
(Added 31 of 1991 s. 11)[cf. 1980 c. 58 s. 28A U.K.]