D 1897.] KOWLOON GODOWNS TRAMWAYS.
[No. 7.
335
The Company or its assigns, and the amount of such cost shall be a debt due to The Government and recoverable against the Company or its assigns.
10. Subject to the approval of the Governor-in-Council being first obtained (but not otherwise), the Company and its assigns may, at any time and from time to time, sell, assign, or absolutely dispose of the said tramways or any part or parts thereof and the rights conferred by this Ordinance to such person, corporation, or company, by public auction or private contract or partly by public auction and partly by private contract, and with, under, and subject to such terms and conditions in all respects as the Company or its assigns may think fit, with power at any such sale to fix a reserve price for or buy in the same; and when any such sale, assignment, or absolute disposal has been made, the rights, powers, authorities, obligations, and liabilities of the Company and its assigns in respect to the said tramways, or the part or parts thereof sold, assigned, or absolutely disposed of, shall be transferred to and vested in, and may be exercised by, and shall attach to the person, corporation, or company to whom the same has or have been sold, assigned, or absolutely disposed of, in like manner as if the said tramways or part or parts thereof, or the rights hereby conferred, sold, assigned, or absolutely disposed of, was or were constructed by such person, corporation, or company under the powers conferred upon him or it by this Ordinance, and in reference to the same he or it shall be deemed to be the Company or its assigns.
11. Subject to the approval of the Governor-in-Council being first obtained (but not otherwise), the Company and its 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, corporation, or company, for any term or terms of years, or from year to year, or for any less period, and for such rent or rents, and on such terms and conditions in all respects as the Company or its assigns may 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 Company and its assigns, at any time and from time to 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 assign or demise, by way of mortgage, all or any portion of the said tramways to any person, corporation, or company, and to enter into all such covenants, provisos, declarations, and agreements as the Company or its assigns may think fit and proper.
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