I think you are misinterpreting the words "centre line" in the road code. It doesn't mean a hypothetical "centre" of the road. It means an actual painted line on the road.
If there is a continuous white line painted on the road (and I am not sure but I thnk it must be continous, solid, not dashed - all I have seen thus have been solid), then that has special significance. It means that the road is assumed to continue along that path , and the "corner" becomes a "curve"
You drawing is not clear because although it shows a line, it is not solid or continuous.
If there is NO continuous centre line painted on the road, then there are three roads. "Blue car road", "red car road", and "no car road". It is a T intersection and the right hand rule applies.
If there IS a continuous centre line , then there are only two roads. "Blue and red car road", which curves through 90 degrees, and "no car road" . Both the blue car and the red car are both travelling on "blue and red car road". The red car intends to turn off it , making a right turn into "no car road". And must give way to straight through traffic, which blue car is.
Beach Road in East Coast Bays has an actual example of this .
Your drawing needs clarification to make it clear if there is intended to be a continuous centre line or not. Remembering that "continuous centre line" means an actual physical painted line .
Incidentally this is the only situation that I can recall where a continuous line, as opposed to a dashed line, is significant.
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