1448
No. 10 of 1902.
Royalties.
*
Fares for
passengers.
+
TRAMWAY.
Royalties to Government.
47.—(1) The company shall not be required to pay any royalty for 10 years after the tramway has been opened for public traffic, but in consideration of the rights, powers and authorities hereby granted or conferred, the company thereafter shall pay to the Government the following royalties:-
(a) from and after the expiration of the said 10 years, for the period of 25 years, 5 per cent. per annum of the profits;
(b) after the said period of 25 years has expired and for so long as the company shall exercise their said rights, powers and authorities, 25 per cent. per annum of the profits.
For the purposes of this section profits shall be the gross takings of the company less working expenses, and such working expenses shall not be deemed to include any interest or dividends upon any moneys borrowed for the purposes of the company.
(2) Any person appointed by the Government as auditor for the purpose may at all reasonable times inspect the books, papers and vouchers of the company and take notes therefrom.
(3) In the event of any dispute arising between the Government and the company as to what is, for the purposes of this section, the correct amount of the profits of the company in any particular year, such amount shall be determined upon a special case.
Fares and Charges.
48. The company may demand and take for every passenger travelling upon the tramway or any portion thereof, fares not exceeding the following rates:-
(i) from or to the point where Section No. 1 is authorised to commence to or from the General Post Office, for any distance, for a 1st class passenger 15 cents, for a 2nd class passenger 10 cents, and for a 3rd class passenger 5 cents;
(ii) from or to the General Post Office to or from the point in Shau-ki-wan Road where Section No. 2 is authorised to terminate, or to or from the Point in Wong Nei Chong Road where section No. 5 is authorised to terminate, for any distance, for a 1st class passenger 15 cents, for a 2nd class passenger 10 cents, and for a 3rd class passenger 5 cents;
* As amended by No. 50 of 1911 and No. 1 of 1912.
As amended by No. 50 of 1911, No. 1 of 1912 and No. 43 of 1912
Supp. Sched.