### First Pacific Bank Limited Ordinance 《第一太平銀行有限公司條例》

5. Vesting of the undertaking in First Pacific Bank
(1) On the appointed day the undertaking shall, by virtue of this Ordinance and without further act or deed, be transferred to, and vest in, First Pacific Bank to the intent that First Pacific Bank shall succeed to the whole undertaking as if in all respects First Pacific Bank were the same person in law as Far East Bank.
(2) Where the vesting of any property situate in any country or territory outside Hong Kong and forming part of the undertaking is governed otherwise than by the law of Hong Kong, Far East Bank shall, if First Pacific Bank so requires, so soon as is practicable after the appointed day, take all necessary steps for securing the effective vesting thereof in First Pacific Bank and, pending such vesting, Far East Bank shall hold any such property in trust for First Pacific Bank.

6. Trust property and wills
(1) Any property deemed to be vested in First Pacific Bank by virtue of this Ordinance which immediately before the appointed day was held by Far East Bank, whether alone or jointly with any other person, as trustee or custodian trustee of any trust deed, settlement, covenant, agreement or will (whether originally so appointed or not, and whether appointed under hand or seal, or by order of any court), 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 First Pacific 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 became vested in Far East 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, Far East 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 Far East Bank there were substituted a reference to First Pacific Bank.
(3) No testamentary gift shall be adeemed by reason only of the operation of any of the provisions of this Ordinance.

### First Pacific Bank Limited Ordinance 《第一太平銀行有限公司條例》

8. Accounting treatment of Far East Bank and First Pacific Bank
(1) On and from the appointed day, by virtue of this Ordinance and notwithstanding the provisions of any other Ordinance—
(a) the balance sheets and profit and loss accounts of First Pacific Bank and Far East Bank for the accounting period of each company in which the appointed day falls shall be prepared in all respects as if the undertaking had vested in First Pacific Bank pursuant to section 5 on the first day of such accounting periods;
(b) every existing reserve of Far East Bank, including the special non-distributable reserve created pursuant to section 4(1)(b), shall be transferred to and for all purposes be and become a reserve of First Pacific Bank;
(c) the amount, description and character of every reserve of First Pacific Bank which shall come into being pursuant to paragraph (b) shall be the same in all respects as those of the corresponding existing reserve immediately before such appointed day, and all enactments and rules of law shall apply to or in respect of every such reserve of First Pacific Bank in the same manner in all respects as they applied to or in respect of the corresponding existing reserve immediately before the appointed day;
(d) all property comprising interests in land and buildings forming part of the undertaking shall, for the purposes of preparing the balance sheet of First Pacific Bank, be deemed to have been acquired by First Pacific Bank at a value equal to the independent valuation of such property as at 31 March 1989 obtained by Far East Bank; and
(e) any retained profits of Far East Bank as at the first day of such accounting periods shall be distributable by First Pacific Bank.
(2) Every reference in subsection (1) to an existing reserve shall include a reference to any reserve or similar provision, irrespective of its name or designation (and whether the amount thereof be positive or negative in nature) and, without prejudice to the generality of the foregoing, every such reference shall include a reference to any sums standing to the credit (or debit) of any profit and loss account.
(3) Without prejudice to the generality of subsection (1), any profits or losses of Far East Bank earned or incurred after the beginning of the financial year of Far East Bank in which the appointed day shall occur, shall, on and from the appointed day, and by virtue of this Ordinance, be treated for all purposes as profits or, as the case may be, losses, of First Pacific Bank.

9. Contracts of employment
(1) Section 7(a) shall apply to a contract for the employment of any person by Far East Bank; and employment with Far East Bank and First Pacific Bank under any such contract shall be deemed for all purposes to be a single continuing employment.
(2) No director or auditor of Far East Bank shall by virtue only of this Ordinance become a director or, as the case may be, auditor of First Pacific Bank.

### First Pacific Bank Limited Ordinance 《第一太平銀行有限公司條例》

10. Evidence: books and documents
(1) All books and other documents which would, before the appointed day, have been evidence in respect of any matter for or against Far East Bank shall be admissible in evidence in respect of the same matter for or against First Pacific Bank.
(2) In this section documents (文件) has the same meaning as in section 46 of the Evidence Ordinance (Cap. 8). (Amended 2 of 1999 s. 6)

11. Part III of Evidence Ordinance (Cap. 8)
(1) On and from the appointed day Part III of the Evidence Ordinance (Cap. 8) shall apply to the banker’s records of Far East Bank deemed to be vested in First Pacific Bank by virtue of this Ordinance, and to entries made in those records before the appointed day, as if such records were the records of First Pacific Bank.
(2) For the purposes of section 20 of the Evidence Ordinance (Cap. 8), banker’s records which are deemed to have become the banker’s records of First Pacific Bank by virtue of this Ordinance shall be deemed to have been the ordinary banker’s records of First Pacific Bank at the time of the making any entry therein which purports to have been made before the appointed day, and any such entry shall be deemed to have been made in the usual and ordinary course of business.
(3) In this section banker’s records (銀行記錄) shall be construed in accordance with section 2 of the Evidence Ordinance (Cap. 8).

### First Pacific Bank Limited Ordinance 《第一太平銀行有限公司條例》

13. Interests in land
The vesting in First Pacific Bank of an interest in land by virtue of this Ordinance shall not—
(a) (Repealed 16 of 2004 s. 16)(b) constitute an assignment, transfer, devolution, parting with possession, dealing with or other disposition of that interest for the purposes of any provision contained in any instrument concerning that interest; or
(c) give rise to any forfeiture; or
(d) invalidate or discharge any contract or security; or
(e) operate so as to merge any leasehold interest in the reversion expectant on it.

14. Saving for enactments concerning banking institutions
Nothing in this Ordinance shall exempt Far East Bank or First Pacific Bank or any other subsidiary of Far East Bank from the provisions of any enactment regulating the carrying on of the business of any of them.

15. Saving for companies
Nothing in this Ordinance shall prejudice the powers of First Pacific Bank to alter its articles of association or to dispose of, or deal with, its property, security or liabilities or to carry on or discontinue any part of its business; and nothing in this Ordinance shall prejudice the powers of Far East Bank to dispose of, or deal with, its property, security or liabilities before the appointed day.
(Amended 28 of 2012 ss. 912 & 920)

16. Saving
Nothing in this Ordinance shall affect or be deemed to affect the rights of the Central Authorities or the Government of the Hong Kong Special Administrative Region under the Basic Law and other laws, or the rights of any body politic or corporate or of any other persons except such as are mentioned in this Ordinance and those claiming by, from or under them.
(Amended 60 of 1999 s. 3)