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Convention and the regulations thereunder for the time
being in force.
ARTICLE 19.
The Company undertakes to be answerable for and to
indormify the Government of Hong Kong against all claims
of whatsoever nature arising out of this Agreement or the
concession made thereunder,
ARTICLE 20.
If the Company shall:-
(a) go into liquidation (otherwise than for the
purpose of reconstruction), or
(b) cease to carry on business, or
(c) soll, assign, underlet or dispose of its
undertaking or any part thereof without the consent in writing of the Governor (which consent shall not be arbitrarily withheld in the case of an assignment to another British Company approved by the Secretary of State for the Colonies and offering sufficient guarantees for the fulfilment of the obligations of the Company undor this Agreement), or
(a) in the finding of the arbitrators on any reference,
have neglected or failed to provide, maintain
and operate an officient service or to perform any other obligation under this Agreement,
then and in such event the Government may issue a notice in
writing calling upon the Company to show cause why the
concession should not be cancelled forthwith. If the
Company on receipt of such notice fails to satisfy the Governar
in Council that it will rectify the default or neglect and
that the concession should be continued the concession may
be cancelled by order of the Governor in Council.
ARTICLE 21.
Upon such cancellation all rights and privileges of
the Company under this Agreement shall cease and determine
forthwith and it shall be lawful but not obligatory for the Government (without prejudice to any other remedy it may have against the Company) at any time within three months after the
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