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Grant of telephone concession to the
No. 9.1
Company for
50 years.
of the Company.
"Street
**
TELEPHONE.
[A.D. 1925.-
A.D. 1925.1
includes any square, court or alley, high way, laue, road or passage whether a through fare or not.
Subscriber " means subscriber to a telephone of the
Company.
Undertaking" includes all works, goods, and pro- perty of whatever nature belonging to the Com- pany.
3.-(1) Subject to the provisions hereinafter contained the Government grants to tho Company the sole right to supply and operate public telephonic communication within the Colony for the period of 50 years commencing on and from the 1st day of July, 1925.
(2) On the 30th day of June, 1925, the franchise to operate telephones which was granted by the Government to the China and Japan Telephone and Electric Company Limited by an Agreement dated the 1st day of February, 1905, shall absolutely cease and determine.
(3) On and from the 1st day of July, 1925, the right interest and benefit of and in all contracts now subsisting between the China & Japan Telephone & Electric Co., Ltd. of the one part and subscribers of the other part shall be deemed to be and are hereby assigued to the Com- pany subject nevertheless to all the obligations arising thereunder,
Registration
4. The Company shall be and remain registered under and Articles the Companies Ordinance, 1911, and its Memorandum and first Articles of Association shall be approved by the Governor in Council and neither its memorandum nor any of its Articles of Association shall, at any time, be amended or added to in any way, except with the previous consent in writing of the Governor in Council.
Number and residence of Directora.
Authorised capital of Company.
5. The Directors of the Company shall be not less thau four and not more than eight in number, and all the Direct- ors shall be bona fide resident in Hongkong.
6. (1) The capital of the company shall be $5,000,000 divided into 500,000 shares of $10 each, and the Company shall not, except with the previous consent of the Legisla- tive Council, make any further issue of shares or otherwise save as in this Ordinance provided in any manner what- ever increase the moneys employed in the company's under- taking beyond the sum of $5,000,000,
"
TELEPHONE.
[No. 9.
31
(2) The Company shall not issue any debentures or Restriction borrow on mortgage except with the consent of the on borrowing. Legislative Council.
7. The Company shall pay to the Treasurer, as & Payment to Royalty for the concession, on the 1st day of July in every Government. year during the aforesaid period of fifty years, commencing on the 1st day of July, 1926, the sum of $4 in respect of each direct exchange line telephone which has been used and paid for during the whole previous twelve months by a subscriber. In cases where direct exchange line telephones have been used and paid for by subscribers for periods of less than twelve months prior to the 1st day of July in each year, the amount of royalty to be paid by the Com- pany shall be $1 for each direct exchange line telephone for each period of thres months or less during which such telephone has been used and paid for by a subscriber.
8. Subject to the consent in writing of the Director Power to and subject also to the restrictous and provisions herein- execute after contained and to such further conditions as the works. Director may in any particular case impose or perscribe, the Company may execute works as follows:-
(a) It may place and maintain telephone lines and cables and ducts under any public street and may alter or remove the same:
(b) It may place and maintain telephone lines and cables over, along or across any public street and may place and maintain posts in or upon any public street and may alter or remove the same :
(c) It may, for the purposes af resaid, open or break
up any public street:
(d) It may place and maintain telephone lines and cables and posts under, in, upon, over, along or across any unleased Crown Land or any estuary or branch of the sea or the shore or bed of any tidal waters within the boundaries of the Colony (but so that the same shall not hinder or interfere with navigation) and may alter or remove the
same :
(e) It may place and maintain telephone lines and cables under, in, upou, over, along, or across rail- way tracks, tunnels and other railway property belonging to the Government (but so that the
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