Hong Kong Ordinances

CLEARING AND SETTLEMENT SYSTEMS ORDINANCE - SECT 26

Law of insolvency in other jurisdictions

Division 5—Miscellaneous

(1) Notwithstanding any law to the contrary, a court shall not recognize or
give effect to—

   (a)  an order of a court exercising jurisdiction under the law of
        insolvency in a place outside Hong Kong; or

   (b)  an act of a person appointed in a place outside Hong Kong to perform a
        function under the law of insolvency there, in so far as the making of
        the order or doing of the act would be prohibited under this Part for
        a court in Hong Kong or a relevant insolvency office-holder.

(2) In subsection (1), “law of insolvency” (破產清盤法), in relation
to a place outside Hong Kong, means any written law or rule of law of the
place which is concerned with or in any way related to the bankruptcy, winding
up or insolvency of a person. “law of insolvency” (破產清盤法)