Cap. 6activeordinance

Bankruptcy Ordinance

破產條例

Full legislation

s.(3B)

(3B)

Where a debt provable in bankruptcy is payable in a currency other than Hong
                Kong dollars, the trustee or, in the case of a voluntary arrangement, the nominee or
                his replacement under
section 20K(3)
, shall convert the amount of the
                debt from the foreign currency into Hong Kong dollars at the midpoint between the
                selling and buying telegraphic transfer rates of exchange quoted by The Hong Kong
                Association of Banks on the day the bankruptcy order is made or, where no such rates
                are quoted, at an exchange rate determined by the court.
(Added
76 of 1996 s. 25
)