A234
Ord. No. 30/86
Short title.
L.S.
PUBLIC BUS SERVICES (AMENDMENT)
HONG KONG
No. 30 OF 1986
I assent.
Edward YOUDE,
Governor.
5 June 1986
An Ordinance to amend the Public Bus Services Ordinance.
[6 June 1986]
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 Public Bus Services (Amendment) Ordinance 1986.
C
3.
PUBLIC BUS SERVICES (AMENDMENT)
Section 28 of the principal Ordinance is amended- (a) in subsection (1), by deleting "(after deduction of taxes)”;
(b) in subsection (3)––
Ord. No. 30/86
(i) by deleting paragraph (a) and substituting the following—
"(a) the operating costs of the grantee;”; and
(ii) by deleting paragraph (b) and substituting the following-
"(b) any profits tax arising from the operating profit of the
grantee; and
(c) any deferred tax (the inclusion of deferred tax in the accounts for that accounting year being at the discretion of the gran- tee),"; and
(c) in subsection (4)(a), by deleting “3(a) and (b)” and substituting the
following--
“3(a), (b) and (c)”.
Passed by the Hong Kong Legislative Council this 4th day of June 1986.
Amendment of section 26. (Cap. 230.)
2.
Section 26 of the principal Ordinance is amended--
(a) by inserting after the definition of "net fixed assets" the following ---
""operating costs" means—
(30 of 1986.)
(a) the total operating costs incurred by a grantce in connexion
with its franchise;
(b) any realized and unrealized currency exchange losses arising after the date of commencement of the Public Bus Services (Amendment) Ordinance 1986 from transactions in con- nexion with the franchise of a grantee; and
(c) depreciation effected in accordance with section 30; "operating profit" of a grantee means the difference between its operat- ing receipts and its operating costs, to which difference is added the interest (referred to in section 29(1)(h)) on all borrowed capital of the grantee;";
(b) in paragraph (a) of the definition of “operating receipts”—
(i) by deleting "and" at the end of sub-paragraph (ii); and (ii) by inserting after sub-paragraph (ii) the following-
(30 of 1986.)
"(ia) any realized currency exchange profits arising after the date of commencement of the Public Bus Services (Amendment) Ordinance 1986 from transactions in connexion with the franchise of the grantee;
(ii) any proceeds of sale of obsolete or used stores and spares which were, when new or before being used, acquired by the grantee for the purposes of or in connexion with its franchise; and"; and
(c) by deleting the definition of “permitted return" and substituting the
following
""permitted return" means the return allowed to a grantee in an accounting year and which is computed in accordance with section 28(1).".
LAW Kam-sang, Clerk to the Legislative Council.
This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said hill.
LAW Kam-sang,
Clerk to the Legislative Council.
A235
Amendment of section 28.
1.
: