6
7
List of shares of Company in stock exchange.
Company
to provide services.
(3) If the Company shall have entered into any contract with a company such as is described in subsection (1) or with any company io respect of which the Company has substantial voting power or in respect of which any person who has substantial voting power in the Company has also substantial voting power, the Financial Secretary in ascertaining the amount due by the Company in respect of royalty may examine the terms and conditions of such contract and may refuse to permit the Company to consider its liability under such contract or any part thereof as a deduction from the profits of the Company for the purpose of ascertaining the amount of the royalty, if the Financial Secretary shall decide that the purpose or effect of such contract is to transfer from the Company to any other company any profits of the Company which might otherwise be included for the purpose of ascer- taining the amount of the royalty.
12. (1) The Company shall take such steps as are necessary in consultation with the Hong Kong Stock Exchange to have and to con- Lious to have the shares of the Company listed and quoted on the Hong Kong Stock Exchange.
(2) If by the 15th day of February 1961, the shares of the Com- pany are not listed or quoted on the Hong Kong Stock Exchange, the Government may cause to be served on the Company notice requiring the Company to show cause to the Governor in Council within one month of the date of such service why the grant should not be revoked by reason of the failure of the Company to obtain the listing and quotation of its shares on the Hong Kong Stock Exchange and if, after the expiry of such period of one month, the Governor in Council is satisfied that the failure of the Company to obtain the listing and quotation of its shares on the Hong Kong Stock Exchange is due to the failure or neglect of the Company, the Governor in Council may revoke the grant and such revocation shall deem to have been by reason of non-compliance on the part of the Company with the provi- sions of this Ordinance.
(3) The provisions of subsection (2) shall apply if, during the term of the grant or any extension thereof, the shares of the Company cease to be listed or quoted on the Hong Kong Stock Exchange.
13. (1) The Company shall provide and maintain throughout the term of the grant and any extension thereof to the satisfaction of the Authority adequate and efficient services of public passenger transport vehicles for the transport of passengers on roads on Hong Kong Island and Aplichau, in return for payment on a per seat basis.
(2) The services shall be provided and maintained on the routes specified from time to time in the Schedule of Services at fares not exceeding the fares specified therein, and according to the time-tables
set forth therein and by the use of vehicles of such types and capable of lawfully carrying not less than the number of passengers as are specified therein.
(3) The Company shall not charge any person a fare greater than the appropriate fare specified in the Schedule of Services.
(4) Nothing in this section shall prevent the Company from pro- viding a supplementary service of public omnibuses and public cars in addition to the service specified in the Schedule of Services, on any route or on any part of a route if the service specified in the Schedule of Services is inadequate to meet the demands therefor and the Company, if required by the Authority to do so, shall provide such supplementary service.
14. (1) A Schedule of Services which has been agreed between Schedule of the Authority and the Company and a copy of which, signed by or on
Services. behalf of the Authority and the Company has been deposited with the Colonial Secretary shall be the Schedule of Services for the purpose of the Ordinance, subject to amendment in accordance with the provisions of section 15.
(2) A copy of such Schedule of Services shall be published in the Gazette as soon as is practicable after the coming into operation of this Ordinance.
15. (1) The Authority, at the request of or after consultation with Amendment the Company, may at any time amend the Schedule of Services and of Schedule shall publish in the Gazette notice of such amendment.
(2) Subject to the provisions of sections 16 and 17, an amendment made in accordance with the provisions of subsection (1) shall take effect on such date as is provided in the notice, which date shall be not less than twenty eight days after the date of publication in the Gazerte.
(3) Nothing in this section shall empower the Authority-
(a) to require the Company to commence and maintain a service on any route not specified in the Schedule of Services or to decrease the fares payable on any route specified in the Schedule of Services without the prior agreement of the Company: or
(b) to increase the fares payable on any route specified in the
Schedule of Services,
(4) Nothing in this section shall prevent the Company, with the consent of the Authority, from commencing and continuing any additional service for a period not exceeding three months notwith- standing that such service shall not have been included in the Schedule of Services.
of Services.