short title.
A BILL
ANNEX TO XCR(77)148
To
Amend the Mass Transit Railway Corporation Ordinance.
Enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof.
1. This Ordinance may be cited as the Mass Transit Railway Corporation (Amendment) ordinance 1977.
Amendment of section 12. (cap. 270.)
2.
Section 12 of the principal Ordinance is amended by adding after subsection (1) the following
new subsection
(1A) For the avoidance of doubt it is hereby declared that no guarantee granted under subsection (1), whether granted before or after the enactment of the Mass Transit Railway Corporation (Amendment) Ordinance 1977, which includes interest, amounts payable in consequence of the operation of any price variation clause, premium or other charges, shall be invalid by reason only that such interest, amounts, premium or charges, although specified in the resolution authorizing the granting of the guarantee, are not quantified as to total amount or included in the amount quantified in such
resolution..