492
GOV
THE HONGKONG GOVERNMENT GAZETTE, 31st MAY, 1884.
Pater to mrrigage.
Duration of Ordinance.
Cation of Pewers.
Saving of righte.
Countuence- ment of Ordinance,
respects, as the said Carchick Paul CHATER his exe- cutors, administrators or 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.
21. It shall be lawful for the said CATCHICK PAUL CHATER his exeentors, administrators or assigns, from time to time and at any time to borrow money on mortgage of all or any part of his undertaking, and for that purpose to assign or demise by way of mortgage, all or any portion of the said wharves and piers, to any person or persons, Corporation or Company, and to enter into all such covenants, provisoes, declarations and agreements as the said CATCHICK PAUL CHATER his executors, administrators or assigns shall think fit and proper.
22. The rights, powers, and privileges granted by this Ordinance to the said CATCHICK PAUL CHATER, his executors, administrators, and assigns, shall continue in force for twenty years to be computed from the date of the Proclamation thereof. Provided always that the Governor in Council may, from time to time, so often as the Governor in Counci: 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 there- upon such rights, powers, and privileges shall continue in force for such extended period.
23. 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 wharves and piers and works by this Ordinance authorised from the said CATCHICK PAUL CHATER, his executors, administrators, or 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 CATCHICK PAUL CHATER, his executors, administrators, or assigns; and in ease 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 CATCHICK PAUL CHATER, bis executors, administrators, and assigns shall, at their own expense, remove the said wharves and piers and works, and restore the site thereof to its former condi- tion, 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 CATCHICK PAUL CHATER, his executors, adminis- trators, or assigns, and the amount of such cost shall be a debt due to the Government, and recoverable against the said CATCHICK PAUL CHATER, his executors, administrators, or assigns accordingly.
24. Nothing in this Ordinance, otherwise than as specially enacted herein, shall be construed, to interfere in any way with any existing rights in the land on which the said wharves, piers or tramways are to be constructed, or the lands or foreshore adjoining the same, and the power 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.
25. This Ordinance shall come into force on a day to be proclaimed by the Governor.