High Court Ordinance

(1)
Subject to subsection (3), a charge may be imposed by a charging order only
on—
(a)
an interest held by the debtor
beneficially—
(i)
in any asset of a kind mentioned in subsection (2) or
(ii)
under any trust; or
(b)
an interest held by a person as trustee of a trust (in this paragraph
                    referred to as
the
                            trust
),
                    if the interest is in an asset of a kind mentioned in subsection (2) or is an
                    interest under another trust
and—
(i)
the judgment or order in respect of which a charge is to be imposed was
                        made against that person as trustee of the trust;
(ii)
the whole beneficial interest under the trust is held by the debtor
                        unencumbered and for his own benefit; or
(iii)
in a case where there are 2 or more debtors all of whom are liable to
                        the creditor for the same debt, they together hold the whole beneficial
                        interest under the trust unencumbered and for their own benefit.
(2)
The assets referred to in subsection (1)
are—
(a)
land;
(b)
securities of any of the following
kinds—
(i)
Government stock;
(ii)
stock of any body incorporated in Hong Kong;
(iii)
stock of any body incorporated outside Hong Kong or of any state or
                        territory outside Hong Kong, being stock registered in a register kept at
                        any place within Hong Kong;
(iv)
units of any unit trust in respect of which a register of the unit
                        holders is kept at any place within Hong Kong; or
(c)
funds in court.
(3)
In any case where a charge is imposed by a charging order on any interest in an
                asset of a kind mentioned in subsection
(2
)(
b)
or (c), the Court of First
                Instance may provide for the charge to extend to any interest, dividend or other
                distribution payable and any bonus issue in respect of the asset.
(Amended
25 of 1998 s. 2
)
(4)
In this
section—
dividend
(
派息
) includes any distribution in respect of
                any unit of a unit trust;
[cf. 1979
                    c. 53 s. 6 U.K.]
stock
(
證券
) includes shares, debentures, loan
                stocks, funds, bonds, notes, any other securities issued by the body concerned,
                whether or not constituting a charge on the assets of that body and any rights or
                options to subscribe for or be allotted any of the foregoing; and
unit
                    trust
(
單位信託
) means any trust established for the
                purpose, or having the effect, of providing, for persons having funds available for
                investment, facilities for the participation by them, as beneficiaries under the
                trust, in any profits or income arising from the acquisition, holding, management or
                disposal of any property whatsoever.