Hong Kong Ordinances

MASS TRANSIT RAILWAY ORDINANCE - SECT 48

Perfection of vesting of foreign property, rights and liabilities

(1) MTRC and the Corporation shall take, as and when the Corporation considers
appropriate, all steps necessary or desirable for securing that the vesting in
the Corporation under this Part of any foreign property, right or liability is
effective under the relevant foreign law.

(2) Until the vesting of any foreign property, right or liability of MTRC in
the Corporation becomes effective under the relevant foreign law, MTRC shall
hold that property or right for the benefit of, and discharge that liability
on behalf of, the Corporation.

(3) Any costs and expenses incurred by MTRC under this section shall be met by
the Corporation.

(4) Nothing in subsection (1) or (2) shall be taken as prejudicing the effect
under the laws of Hong Kong of the vesting in the Corporation by virtue of
section 37 or this section of any foreign property, right or liability.

(5) In this section, reference to any foreign property, right or liability is
a reference to any property, right or liability in respect of which any issue
arising in any proceedings would have to be determined (in accordance with the
rules of private international law) by reference to the law of a place outside
Hong Kong.