HSBC 2001 Annual Report Download - page 8

HSBC HOLDINGS PLC
Certain Defined Terms
6
Unless the context requires otherwise, ‘HSBC
Holdings’ means HSBC Holdings plc and ‘HSBC’
means HSBC Holdings together with its subsidiary
undertakings. Within this document the Hong Kong
Special Administrative Region of the People’ s
Republic of China is referred to as ‘Hong Kong’ or
‘Hong Kong SAR’ .
Where reference to constant currency is made,
comparative data, as expressed in the functional
currencies of HSBC’ s operations, has been translated
at current period exchange rates.
Information About the Enforceability of Judgements Made in the United States
HSBC Holdings is a public limited company
incorporated in England and Wales. Most of HSBC
Holdings’ Directors and executive officers live outside
the United States. Most of the assets of HSBC
Holdings’ Directors and executive officers and a
substantial portion of HSBC Holdings’ assets are
located outside the United States. As a result, it may
not be possible to serve process on such persons or
HSBC Holdings in the United States or to enforce
judgements obtained in US courts against them or
HSBC Holdings based on civil liability provisions of
the securities laws of the United States. There is doubt
as to whether English courts would enforce:
• certain civil liabilities under US securities laws in
original actions; or
• judgements of US courts based upon these civil
liability provisions.
In addition, awards of punitive damages in
actions brought in the United States or elsewhere may
be unenforceable in the United Kingdom.
Exchange Controls and Other Limitations Affecting Security Holders
There are currently no UK laws, decrees or
regulations which would prevent the transfer of capital
or remittance of dividends and other payments to
holders of HSBC Holdings’ securities who are not
residents of the United Kingdom. There are also no
restrictions under the laws of the United Kingdom or
the terms of the Memorandum and Articles of
Association of HSBC Holdings concerning the right
of non-resident or foreign owners to hold HSBC
Holdings’ securities or, when entitled to vote, to do so.