L. S.
HONG KONG.
No. 9 of 1940.
】 assent.
G. A. S. NORTHCOTE,
Governor.
5th April, 1940.
An Ordinance to amend the Telephone Ordinance, 1925, as amended by the Telephone Amendment Ordinance, 1930, and the Telephone Amendment Ordinance, 1933.
[5th April, 1940.]
BE it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:
1. This Ordinance may be cited as the Telephone Short title. Amendment Ordinance, 1940.
2. Section 5 of the Telephone Ordinance, 1925, is Substitution repealed and the following section is substituted therefor-
for section 5 of Ordinance No. 9 of 1925.
residence of Directors.
5. The Directors of the Company shall not be less than Number and six and not more than ten in number and all the Directors shall be bonâ fide resident in Hong Kong.
3. Section 7 of the Telephone Ordinance, 1925, is Substitution repealed and the following section is substituted therefor
7. The Company shall pay to the Accountant General, as a Royalty for the concession, on the 1st day of March in every year during the remainder of the term of the conces- sion, commencing the 1st day of March, 1940, the sum of $4 in respect of each direct exchange line telephone which has been used and paid for during the whole preceding financial year of the Company by a subscriber. In cases where direct exchange line telephones have been used and paid for by subscribers for less than twelve months prior to the last day of such financial year, the amount of Royalty to be paid by the Company shall be $1 for each direct exchange line telephone for each period of three months or less during which such telephone has been used and paid for by a sub- scriber : Provided that the payment to be made on the 1st day of March, 1940, will be solely in respect of the second six months of the preceding financial year of the Company.
for section 7 of Ordinance No. 9 of 1925.
Payment to Government.
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