Hong Kong Ordinances

BANKRUPTCY ORDINANCE - SECT 48

Avoidance of general assignments of book debts unless registered

(Past version on 30/06/1997).

(1) Where a person engaged in any trade or business makes an assignment to any
other person of his existing or future book debts or any class thereof and is
subsequently adjudicated bankrupt, the assignment shall be void against the
trustee as regards any book debts which have not been paid before the date of
the bankruptcy order, unless the assignment has been registered with the
Registrar in a register to be kept by him for that purpose: (Amended 76 of
1996 s. 35) Provided that nothing in this section shall have effect so as to
render void any assignment of book debts due at the date of the assignment
from specified debtors, or of debts growing due under specified contracts, or
any assignment of book debts included in a transfer of a business made bona
fide and for value, or in any assignment of assets for the benefit of
creditors generally.

(2) For the purposes of this section, "assignment" (轉讓) includes
assignment by way of security and other charges on book debts. [cf. 1914 c. 59
s. 43 U.K.]

"assignment" (轉讓)