129
should be redrafted in principle to
solely
deal mainly with future services.
9.
Article 10.
His Lordship is
prepared, though with some reluctance,
to accept in principle the amendment
proposed by you, since the possibility
of the increase as well as reduction
of present rates seems to be contemplated
in Article 3.
10. Article 11. It is one of the principles
of taxation in Hong Kong that all public
utility services in private hands are
subjected to the payment of royalties.
For instance, royalties are imposed upon
the local Telephone, Tramway, and other
public utility companies. In these
circumstances it will clearly be the
desire of the Government to impose
royalties upon the services mentioned
in this Article, and in His Lordship's
view the words should stand part of the
A
Article