Insolvency of Company.
30. If at any time after the opening of the tramway or any portion thereof for traffic it appears to the Governor in Council that the Company are insolvent, so that they are unable to maintain the tramway or such portion thereof as has been opened for traffic or work the same with advantage to the Public, the Governor in Council may enquire into the financial affairs of the Company, and, if satisfied that the Company are so insolvent as aforesaid, may by order declare that the powers of the Company shall, at the expiration of six months from the making of the order, be at an end, and the powers of the Company shall cease and determine at the expiration of the said period unless the same are purchased by the Government in manner by this Ordinance provided, and thereupon the Director of Public Works may remove the tramway in like manner and subject to the same provisions as to the payment of the costs of such removal and to the same remedy for recovery of such costs in every respect as in cases of removal under the immediately preceding section.
Purchase of Tramway.
31. The Governor in Council may at the expiration of fifty years from the date of the commencement of this Ordinance, or at the expiration of any subsequent period of five years, or at the expiration of three months after the making of any order by the Governor in Council under either of the two immediately preceding sections, on giving to the Company a notice in writing of the intention of the Governor in Council so to do in manner following, that is to say:
(a) at least six months' notice prior to the expiration of such fifty years;
(b) at least six months' notice prior to the expiration of any such subsequent period of five years;
(c) at least two months' notice prior to the expiration of such three months,
require the Company to sell and thereupon the Company shall sell to the Government their undertaking, and all lands, buildings, works, materials and plant of the Company suitable to and used by the Company for the purposes of their undertaking, for and in consideration of the then value of the same. Provided that the value aforesaid shall be deemed to be the fair value at the time of the purchase, due regard being had to the cost of construction less depreciation, and to the then nature, condition and state of repair of the buildings, works, materials and plant, and to the fact that they are in such a condition and state of repair as to be ready for immediate working, and to the suitability of the same for the purposes of the undertaking, but without any addition in respect of compulsory purchase, or of goodwill, or of any profits which might have been made from the undertaking or of any similar considerations. In case of difference, such value as aforesaid shall be determined by a special case. When any such sale has been made and completed all the rights, powers and authorities of the Company in respect of the premises sold, or, where any order has been made by the Governor in Council under either of the two immediately preceding sections, all the rights, powers and authorities of the Company previous to the making of such order in respect of the premises sold shall be transferred to and vested in and may be exercised by the Government.
Motive Power.
32. The cars used on the tramway shall be moved by electric power conveyed by means of a bare overhead wire and the rails of the tramway. Provided always that the exercise of the powers by this section conferred with respect to the use of electric power shall be subject to the rules set forth in Schedule A hereto, and to any rules which may be added thereto or substituted therefor by any order which the Governor in Council may make from time to time as and when he may think fit, for securing to the public all reasonable protection against danger in the exercise of the powers hereby conferred with respect to the use of electric power on the tramway. In the event of the Company being unable at any time or times to move the cars by electric power the cars may temporarily be moved by animal power.
33. Every motor car and trailer car used on the tramway shall be so constructed as to provide for the...
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