| For the better apportionment of rents and other periodical payments. [10 March 1886] (Originally 2 of 1886 (Cap 18, 1950)) Cap 18 s 1 Short title This Ordinance may be cited as the Apportionment Ordinance. (Amended 5 of 1924 s. 6) [cf. 1870 c. 35 s. 1 U.K.] Cap 18 s 2 Interpretation In this Ordinance, unless the context otherwise requires- "annuities" (年金) includes salaries and pensions; "dividends" (股息) includes (besides dividends strictly so called) all payments made by the name of dividend, bonus, or otherwise out of the revenue of trading or other public companies, divisible between all or any of the members of such respective companies, whether such payments are usually made or declared at any fixed times or otherwise; and all such divisible revenue shall, for the purposes of this Ordinance, be deemed to have accrued by equal daily increment during and within the period for or in respect of which the payment of the same revenue is declared or expressed to be made, but the said word "dividends" shall not include payments in the nature of a return or reimbursement of capital; "rents" (租金) includes all periodical payments or renderings in lieu of or in the nature of rent. [cf. 1870 c. 35 s. 5 U.K.] Cap 18 s 3 Rents, etc., to accrue from day to day All rents, annuities, dividends, and other periodical payments in the nature of income (whether reserved or made payable under an instrument in writing or otherwise) shall, like interest on money lent, be considered as accruing from day to day, and shall be apportionable in respect of time accordingly. (Amended 50 of 1911 s. 4) [cf. 1870 c. 35 s. 2 U.K.] Cap 18 s 4 Apportioned part of rent, etc., to be payable when next entire portion due The apportioned part of any such rent, annuity, dividend, or other payment shall be payable or recoverable, in the case of a continuing rent, annuity, or other such payment, when the entire portion of which such apportioned part forms part becomes due and payable, and not before; and, in the case of a rent, annuity, or other such payment determined by re-entry, death, or otherwise, when the next entire portion of the same would have been payable if the same had not so determined, and not before. [cf. 1870 c. 35 s. 3 U.K.] Cap 18 s 5 Remedies for recovering apportioned parts All persons and their respective executors, administrators, and assigns, and also the executors, administrators, and assigns respectively of persons whose interests determine with their own deaths, shall have such or the same remedies at law and in equity for recovering such apportioned parts as aforesaid when payable (allowing proportionate parts of all just allowances) as they respectively would have had for recovering such entire portions as aforesaid if entitled thereto respectively: Provided that persons liable to pay rents reserved out of or charged on lands or tenements, and the same lands or tenements, shall not be resorted to for any such apportioned part forming part of an entire or continuing rent as aforesaid specifically, but the entire or continuing rent, including such apportioned part, shall be recovered and received by the person who, if the rent had not been apportionable under this Ordinance or otherwise, would have been entitled to such entire or continuing rent, and such apportioned part shall be recoverable from such person by the executors or other parties entitled under this Ordinance to the same by action or suit. [cf. 1870 c. 35 s. 4 U.K.] Cap 18 s 6 Exclusion of policies of assurance Nothing in this Ordinance shall render apportionable any annual sums made payable in policies of assurance of any description. [cf. 1870 c. 35 s. 6 U.K.] Cap 18 s 7 Exclusion by express stipulation This Ordinance shall not extend to any case in which it may be expressly stipulated that no apportionment shall take place. (Amended 50 of 1911; 62 of 1911 Schedule) [cf. 1870 c. 35 s. 7 U.K.] |
