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2.
c)
4.
any other matters which may be put forward by govern- ment or the companies.
Changes agreed upon as a result of such discussions shall be effective beginning with the sixteenth year following implementation of this Scheme of Control, unless another date is agreed to by the companies and approved by government.
Initial Arrangements
unrestricted In order to
For purposes of this Scheme of Control, the China Light capitalization on September 30, 1963, is to be divided into two components shareholder funds and the Special Investment Reserve. calculate the amount of unrestricted shareholder funds, the, capital and reserve balances shown on the books of account of China Light on September 30, 1959 and on September 30, 1960, have been averaged. The average, which is HK$153.9 million, represents the opening capital and reserves balances on March 31, 1960, the date when the Power Commission rendered its report. For the period subsequent to March 31, 1960, the allowed earnings of China Light have been calculated by multiplying the allowed 12.5 per cent rate times the average net fixed assets for, each year to determine the funds allocated to the shareholders for their unrestricted use. From this amount the dividends paid to shareholders have been subtracted, leaving a balance of unrestricted shareholder reserves on September 30, 1963 of HK$76.8 million. remaining reserves amounting to HK$95.3 million constitute the amount included in the Special Investment Reserve of China Light on September 30, 1963 (Appendix 11, Exhibit A).
The
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balance 15%)
12.5 Per deta