(b)
the Rail Company shall throughout the continuance
of the franchise granted by section 5(1) be
deemed to be the owner of and to have the
relevant interest in the works which it has the
right to keep in place under section 5(1)(b);
(Cap. 112.)
(c)
upon the assignment of the benefit of the
franchise granted under section 5(1) to the
Eastern Harbour Crossing Company Limited under
section 7(1), any capital expenditure, as defined
for the purposes of Part VI of the Inland Revenue
Ordinance, incurred by the New Hong Kong Tunnel
Company Limited (being then the Rail Company) on
the works referred to in paragraph (b) shall be
deemed to have been incurred by the Eastern
Harbour Crossing Company Limited at the time of
the assignment:
Provided that any allowance granted under
that Part in respect of the expenditure deemed to
have been incurred shall be reduced by any
allowance granted under that Part to any other
person in respect of the same expenditure.