460
(2.) If in the opinion of the Governor in Council the licensee shall have discontinued the working of the ferry or any part thereof for any period whatsoever it shall be lawful for the Governor in Council notwithstanding the existence of such licence to make such arrange- ments as he may think fit in the public interest for the temporary maintenance of such ferry or part thereof.
(3.) Any net loss incurred by or on behalf of the Government in consequence of the making of any such arrangement as is contemplated in paragraph (2) of this regulation shall be recoverable by the Government from the licensee.
(4.) The fact that any such arrangement as is contemplated in paragraph (2) of this regulation has been made shall not prevent the running of the period of fourteen days referred to in paragraph (1) of this regulation.
(5.) This regulation shall not apply to any discontinuance which in the opinion of the Governor in Council is due to circumstances beyond the control of the licensee, but the want of sufficient funds shall not for the purpose of this regulation be deemed to be a circumstance beyond the control of the licensee.
INSOLVENCY OF THE LICENSEE.
36. If it appears to the Governor in Council that the licensee is insolvent so that he is unable to maintain his ferry or any part thereof or to work the same with advantage to the public, the Governor in Council may enquire into the financial affairs of the licensee and if satisfied that the licensee is so insolvent as aforesaid may by order declare that the powers and privileges of the licensee shall at the expiration of three months from the making of the order be at an end and the powers and privileges of the licensee shall cease and deter- mine at the expiration of the said period.
PURCHASE OF FERRIES.
37. The Governor in Council may, at the expiration of the term of the licence, or on the determination of the powers and privileges of the licensee under the foregoing regula- tions, or at any time during the term of the licence on giving six months notice in the Gazette, require the licensee to sell and thereupon the licensee shall sell to the Government his undertaking and all ferry vessels, materials, plant, and equipment suitable to and used by the licensee for the undertaking for and in consideration of the then value of the same, without any addition in respect of goodwill, compulsory purchase, or of any profits which might have been made from the undertaking: Provided that if such notice during the term of the licence be given the amount payable for the ferry vessels, materials, plant, and equipment shall be not less than the original value of the same when acquired by the licensee less an allowance in respect of reasonable wear and tear. In the case of difference the value shall be determined by arbitration.
ARBITRATION.
38. Every arbitration under these regulations shall be heard and determined by a Board of Arbitrators which shall in each case consist of three members and be constituted in mauner following
:-
(i.) The Chairman of the Board shall be such Judge as the Judges may mutually
arrange.
(ii.) The two other members of the Board shall consist of one member to be nominated by the Governor and the other by the licensee : Provided always that the member nominated by the Governor may be any member of the Colonial Civil Service.
(iii.) Notice in writing of the nomination by the Governor of a member of the Board shall be forthwith given to the licensee and shall be published in the Gazette and if he does not nominate a member of the Board within seven days from the date of such publication it shall be lawful for the Chairman to nominate and app int any person, other than a member of the Colonial Civil Service, on behalf of such owner.