Hong Kong Ordinances

LAND TITLES ORDINANCE - SECT 68

Transmission on liquidation

not yet in operation

(1) Where a company is being wound up—

   (a)  the liquidator of the company shall present to the Registrar the
        resolution or order under which he holds his appointment as
        liquidator; and

   (b)  on the presentation of the resolution or order, the Registrar shall
        enter the appointment in the Title Register in respect of any
        registered land, registered charge or registered long term lease of
        which the company is the owner or lessee.

(2) An instrument executed by or on behalf of a company being wound up
presented to the Registrar for registration after the appointment of the
liquidator of the company has been entered in the Title Register shall—

   (a)  in the case of a company required by law to have a common seal, be
        sealed with the common seal of the company and attested by the
        liquidator;

   (b)  in any other case, be signed by the liquidator.

(3) Where an order has been made under section 198 of the Companies  Ordinance
( Cap 32) vesting in the liquidator of a company any registered  land,
registered charge or registered long term lease of which the company is the
owner or lessee—

   (a)  the liquidator shall present the order to the Registrar; and

   (b)  on the presentation of the order, the Registrar shall register the
        liquidator as the owner or lessee, as the case may be, of the land,
        charge or lease.

(4) Where under subsection (3) the liquidator of a company is registered as
the owner of registered land or a registered charge, or as the lessee of a
registered long term lease, the liquidator shall be subject to—

   (a)  any restrictions (including any rights) provided for in the
        Companies Ordinance ( Cap 32) or any other enactment; and

   (b)  any interests subject to which the company held the land, charge or
        lease immediately prior to the order made under section 198 of the
        Companies Ordinance ( Cap 32) by virtue of which the land, charge or
        lease was vested in the liquidator.