for the Financial Secretary with the object of avoiding in whate or in part any refund under sub-paragraph (3) to direct from time to time the acceptance of payment of a sum which is less than that due under the provisions of this paragraph without pre- judice either to the right of Government to demand payment of the full sum due in respect of any month or to final adjustment: Provided also that no royalty shall be payable if and for so long as it is shown to the satisfaction of the Governor in Cancil that the gross monthly receipts as aforesaid do not exceed the total cost of operating the ferry service.
(3) When in any accounting year of the Company the total royalty payable under sub-paragraph (2) together with the sums payable under paragraph 13 exceeds 25 per cent of the net profit for that year before deductions of such sums then such excess shall be refunded to the Company.
(4) The net profit as aforesaid shall be ascertained in (Cap. 112). accordance with Part IV of the Inland Revenue Ordinance provided that in making the deductions set forth in section 16 thereof due regard shall be had to the current level of prices and costs, so that any such deduction shall be limited to a sum which in the opinion of the Financial Secretary is reasonable, and so that allowance of any sum by way of depreciation of a capital asset shall be limited to an amount which represents the allow ance approved under Part VI of the said Ordinance on what in the opinion of the Financial Secretary is a reasonable price for such asset.
(5) The Financial Secretary and any person authorized by him in writing shall for the purpose of ascertaining the net profit be an authorized prepresentative of the Company for the purposes (Cap. 112). of section 4 of the Inland Revenue Ordinance to the intent that the Commissioner of Inland Revenue and any assessor or person appointed to carry out duties under the said Ordinance shall on demand by the Financial Secretary without breach of the duties imposed on him by such section disclose all matters relating to the affairs of the Company as the Financial Secretary or such authorized person may require.
(6) In the event of the Company failing to agree with the assessment of net profit made by the Financial Secretary, an
appeal shall lie to the Governor in Council, whose decision shall be final.
to
6. The Company shall maintain the ferry service in an Company efficient and adequate manner to the satisfaction of the Governor maintain in Council and shall publish a Schedule subject to the approval service.
adequate of the Director of Marine stating the intended times of departure from the piers.
or
service.
7. (1) If it be represented in writing to the Governor in Inefficient Council by the Director of Marine or by fifty inhabitant rate- inadequate payers that the Company is not maintaining the ferry service in ferry whole or part in an efficient and adequate manner, the Governor In Council may (if satisfied that the representation merits inquiry) appoint a person o committee of persons to inquire into the matter and report thereon. If upon consideration of such report the Governor in Council is satisfied that the representation is well founded the Governor in Council may issue an order to the Company requiring the Company to remedy such inefficiency or inadequacy in manner specified in such order. Every such order shall be served on the Company and published in the Gazette.
(2) If for the period of three months after the service of such order and its publication in the Gaselle the Company fails or neglects to comply therewith, the ferry service shall be deemed to have been discontinued and the provisions of paragraph & of this Schedule shall apply.
8. (1) If in the opinion of the Governor in Council the Discon-
tinuance Company has discontinued the working of the ferry service or of Berry any part thereof for a period of fourteen days the Governor in service. Council may by order declare the concession to be terminated, and thereupon all the powers and privileges of the Company in respect of the concession shall cease and determine.
(2) If in the opinion of the Governor in Council the Com- pany has discontinued the working of the ferry service or any part thereof for any period whatsoever it shall be lawful for the Governor in Council notwithstanding the subsistence of the con- cession to make such arrangements as he may think fit in the public interest for the temporary maintenance of such ferry service or part thereof.