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Power of Governor
to direct Port Trust to increase or reduce port dues and charges
(a) the payment of the interest on and the
principal of any debentures or other
indebtedness of the Port Trust.
(3) The Port Trust may allocate any portion of its
revenues, after payment of the expenses of
administration, management, and control, to a
reserve fund for the replacement of fixed assets or
of plant or of equipment or for the retirement of
debts or for any other purpose. The amounts so
allocated may remain at the credit of a special
account at such rate of interest as the Governor in
Council may approve or the Port Trist may invest
such amounts in securities approved by the
Governor in Council.
(4)(a) Full and accurate accounts shall be kept
by the Port Trust of its assets, liabilities,
income, and expenditure.
Complete and separa te
financial and cost accounts of each of the functions
transferred to or carried on by the Port Trust under this Ordinance shall be kept.
(b) The forms and manner shall be such as are
prescribed by the Governor or by
regulations made from time to time.
50.(1)(a) If at any time it appears to the Governor
in Council that sufficient provision is nott
being made to meet the liabilities of the
Port Trust, the Governor may require the
Port Trust to make such provision by
increasing all or any of the port dues
and charges to such extent and for such
period as the Governor in Council may
approve.
(b) If within one month after receipt of
a requisition under paragraph (a) of
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