Hong Kong Ordinances

DISTRICT COURT ORDINANCE - SECT 52AA

Property which may be charged

(1) Subject to section 25 (which provides that a writ of execution shall not
issue against any partnership property except on a judgment against the firm)
of the Partnership Ordinance ( Cap 38), a charge may be imposed by a
charging order under this Ordinance only on-

   (a)  an interest held by the judgment debtor beneficially-

        (i)    in an asset of a kind mentioned in subsection (2); or

        (ii)   under a trust; or

   (b)  an interest held by a person as trustee of a trust (in this
paragraph referred to as "the trust"), if the interest is in an asset of a
kind mentioned in subsection (2) or is an interest under another trust and-

        (i)    the judgment or order for which a charge is to be imposed was
               made against the person as trustee of the trust;

        (ii)   the whole beneficial interest under the trust is held by the
               judgment debtor unencumbered and for his own benefit; or

        (iii)  2 or more judgment debtors are all liable to the judgment 
               creditor for the same debt and together hold the whole
               beneficial interest under the trust unencumbered and for their
               own benefit.

(2) The assets referred to in subsection (1) are-

   (a)  land;

   (b)  securities of any of the following kinds-

        (i)    Government stock;

        (ii)   stock of any body incorporated in Hong Kong;

        (iii)  stock of any body incorporated outside Hong Kong or of any
               state or territory outside Hong Kong, being stock registered in
               a register kept in Hong Kong;

        (iv)   units of a unit trust for which a register of the unit holders
               is kept in Hong Kong;

   (c)  funds in court.

(3) The Court may extend a charge to any interest, dividend or other
distribution payable and any bonus issue in respect of the asset where the
charging order is over an interest in an asset other than land.

(4) In this section-

"dividend" (股息) includes a distribution for any unit of a unit trust;

"stock" (證券) includes shares, debentures, loan stocks, funds, bonds,
notes, any other securities issued by the body concerned, whether or not
constituting a charge on the assets of the body and any rights or options to
subscribe for or be allotted any of them;

"unit trust" (單位信託) means a trust established to provide for persons
having funds to invest, facilities for them to participate as beneficiaries
under the trust in the profits or income arising from acquiring, holding,
managing or disposing of property. (Added 28 of 2000 s. 26)

"dividend" (股息)

"stock" (證券)

"unit trust" (單位信託)