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THE HONGKONG GOVERNMENT GAZETTE, 18TH SEPTEMBER, 1897.
Power to demise.
Power to mortgage.
Duration of Ordinance.
Cessation of powers.
Saving of rights.
Commence- ment of
Ordinance.
11. Subject to the approval of the Governor in Council being first obtained (but not otherwise) the said Hongkong and Kowloon Wharf and Godown Company, Limited, and their assigns may, at any time and from time to time, demise the said Tramways together with the rights, powers and privileges conferred by this Ordinance or any part or parts thereof, to such person or persons, Corporation or Company, for such term or terms of years, or from year to year, or for any less period, and for such rent or rents, and upon such terms and conditions in all respects as the said Hongkong and Kowloon Wharf and Godown Company, Limited, or their assigns shall think fit to adopt, to take effect either in possession or reversion, and either with or without a premium or premiums, as a consideration or considerations for such demise or demises.
12. It shall be lawful for the said Hongkong and Kow- loon Wharf and Godown Company, Limited, and their assigns, from time to time and at any time, to borrow money on mortgage of all or any part of the said Tramways together with the rights, powers and privileges conferred by this Ordinance, and for that purpose to assigu or demise, by way of mortgage, all or any portion of the said Tram- ways, to any person or persons, Corporation or Company, and to enter into all such covenants, provisocs, declarations and agreements as the said Hongkong and Kowloon Wharf and Godown Company, Limited, or their assigns shall think fit and proper.
13. The rights, powers and privileges granted by this Ordinance to the said Hongkong and Kowloon Wharf and Godown Company, Limited, and their assigns, shall continue in force for twenty years to be computed from the 23rd day of September, 1884. Provided always that the Governor in Council may, from time to time, so often as the Governor in Council shall think it expedient, by Order, to be published in The Gazette, declare that the duration of such rights, powers and privileges shall be extended for any further term or terms not exceeding ten years at a time, and thereupon such rights, powers and privileges shall continue in force for such extended period.
14. Upon the cessation of the rights, powers and privi- leges granted by this Ordinance, it shall be at the option of the Governor in Council to purchase the Tramways and works authorized by this Ordinance from the said Hongkong and Kowloon Wharf and Godown Company, Limited, or their assigns for a price which shall be exclusive of any allowance for past or future profits of the undertaking, or any compensation for compulsory sale, to be determined in case of difference by two arbitrators to be nominated one by the Governor in Council, and the other by the said Hongkong and Kowloon Wharf and Godown Company, Limited, or their assigns; and in case the said arbitrators cannot agree, by an umpire to be agreed upon between them. If the Governor in Council does not exercise the option to buy within one month of such cessation as aforesaid, the said Hongkong and Kowloon Wharf and Godown Company, Limited, or their assigns shall, at their own expense, remove the said Tramways and works and restore the site thereof to its former condition, and in the event of their failure to do so within one year of the date of such cessation, it shall be lawful for the Governor in Council to abate and remove the same, and restore the site thereof to its former condition at the cost of the said Hongkong and Kowloon Wharf and Godown Company, Limited, or their assigns, and the amount of such cost shall be a debt due to the Government, and recoverable against the said Hongkong and Kowloon Wharf and Godown Company, Limited, or their assigns accordingly. 15. Nothing in this Ordinance contained shall be deemed to alter or affect the provisions of section 15 of Ordinance 25 of 1891.
16. Nothing in this Ordinance, otherwise than as spe- cially enacted herein, shall be construed to interfere in any way with any existing rights in or in relation to any land or any bridge or culvert on or over which the said Tramways are to be constructed, or the lands or foreshore adjoining the same, and the rights, powers and privileges given by this Ordinance are so given, saving and reserving always the rights of Her Majesty, and of all bodies politic and corporate, and of all other persons and those claiming by, from, and under them except as herein otherwise provided. 17. This Ordinance shall come into force on a day to be proclaimed by the Governor.