Sixthly. Military administration to pay rent for period of agreement at rental of 4% (repeat 4%) per annum upon the values of the undertakings as represented by the market values at 6th December 1941, of the total of their issued shares at that date. Such rental to be divided between Companies in proportion to the Units generated by each Company during period of agreement or otherwise, as the Companies may mutually agree, but such rental shall not be distributed among the shareholders.
2. Jackson of Preece Cardew and Ryder, fully informed as to technical aspect of procurement. Following is summary of position regarding Electric Indents, Procurement on all indents which have been forwarded to date beyond assisting in expediting procurement and shipment. Very few items in these indents fall within Government responsibility for replacements under agreement. Jackson will later indicate these items for repayment to Hong Kong Electric. Crown Agents are not (repeat not) concerned in procurement on these indents. China Light and Fower indents. Procurement on indents already forwarded is entirely commercial responsibility. Kenrick should only assist in expediting procurement and shipment. At later date further indents under above agreement from both China Light and Power and Hong Kong Electric certified by me, will be passed to Kenrick for conversion to Government indents on Crown Agents for Colonies under Treasury authority already granted for purchase of electrical equipment under Brett programme.
3. Above, which should be conveyed to Morse, should clarify position regarding action by Kenrick, but Haze grigg can explain details regarding agreement,
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Agreement in final form will be forwarded by air mail shortly for approval of Colonial Office.