Hong Kong Ordinances

LAND TITLES ORDINANCE - SECT 67

Transmission on bankruptcy

not yet in operation

(1) A trustee in bankruptcy shall, on the presentation to the Registrar of a
sealed copy of the order of the Court—

   (a)  adjudging the owner of registered land or a registered charge
        bankrupt, or the lessee of a registered long term lease bankrupt; or

   (b)  directing that the estate of the deceased owner of registered  land or
        a registered charge, or the deceased lessee of a registered long 
        term lease shall be administered according to the law of bankruptcy,
        be entitled to be registered as the owner of the land or charge, or as
        the lessee of the lease, in the place of the bankrupt or deceased
        owner or lessee, with the addition after the English name of the
        trustee in bankruptcy of the words "as trustee of the property of
        ............. a bankrupt", and with the addition after the Chinese
        name of the trustee in bankruptcy of the words
        "作為破產人...........的財產的受託人".

(2) A trustee in bankruptcy who in that capacity is registered as the owner of
registered land or a registered charge, or as the lessee of a
registered long term lease shall—

   (a)  be subject to—

        (i)    any restrictions (including any rights) provided for in the
               Bankruptcy Ordinance ( Cap 6) or any other enactment; and

        (ii)   any interests subject to which the bankrupt or deceased owner
               of the land or charge or lessee of the lease held the land,
               charge or lease immediately prior to his bankruptcy or death;

   (b)  without prejudice to paragraph (a), for the purposes of any dealing in
        the land, charge or lease, have—

        (i)    unrestricted power of sale over the land, charge or lease;

        (ii)   all the rights conferred under this Ordinance or any other
               enactment on the owner of registered land or a
               registered charge, or the lessee of a
               registered long term lease, as the case may be, who has
               acquired the land, charge or lease for valuable consideration.