Powers of Financial
Secretary in relation to royalty,
Licenses to Jubmit audited accounts.
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section 43. lf such accounts are not furnished within the time provided by section 43 the Financial Secretary may exercise the powers granted tider section 42 and may adjust the royalty for the year accordingly;
() after the adjustment of the royalty the licensee shall pay such sum as may be demanded by the Financial Secretary as royalty owing after adjustment, or the Financial Secretary shall inform the licensee of any refund due to him and may direct the Treasury to make payment accordingly or to credit the licensee with the sum due to be refunded;
(k) neither payment by a Hoensee nor acceptance of any sum by the Treasury shall operate in any way to prevent either the licensee or the Government (which term shall include the Financial Secretary) from exercising any right under this section or be deemed to constitute a waiver by either party of any sum which may be payable as royalty or refund: (D) for the purpose of this section, "gross takings" means—
() the grosa sums payable to the licensee in respect of services or facilities provided, or operations carried on, by the licensee for the purposes of or in connexion with its business as a broadcaster of wireless television, other than bank interest or dividends on investments, the proceeds of the sale or re- demption of investments or other capital assets and rent received in respect of any letting of premises that are surplus to the licensee's requirements for the purposes of its business as a broadcaster of wireless television; and
(ii) the gross value as determined by the Television Author- ity of any assets or services received by the licensee in lieu of any such sum as aforesaid.
42. (1) For the purposes of calculating and ensuring the payment of royalties the Financial Secretary, and any person authorized in writ- ing by him for such purposes, may inspect at all reasonable times all books of accounts, vouchers, receipts, and all other records of a licensee and may make extracts from such documents and may take away any such documents for further examination.
(2) All documents and copies thereof and all other information obtained under subsection (1) shall be treated as confidential and used only for the purposes set out in subsection (1).
43. A licensee shall submit to the Financial Secretary not later than six months after the end of the accounting year of the licensee company audited accounts prepared is such manner and containing such details as may be approved and required by the Financial Secretary,
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Anancial
44. (1) Any royalty declared by the Financial Secretary in writing Recovery of to be owing to the Government and any financial penalty imposed by royalty and the Television Authority and declared by him in writing to be owing penalty. to the Government, and not remitted or reduced on appeal by the Governor in Council, shall be recoverable as a civil debt.
(2) Any declaration in writing made under the band of the Finau- cial Secretary or the Television Authority shall be prima facie evidence of the debt.
(3) Any such royalty or financial penalty shall constitute a first charge on the installations, equipment and other assets of the licenses.
45. (1) Where the Television Authority is of the opinion that- (a) information contained in an application was incorrect; or (b) the licensee is not complying with any condition of the licence, he, or any public officer authorized by him or any agent appointed by him, may at all reasonable times--
(i) inspect all books, accounts, records and other documents of
the licensee:
(ii) make extracts of any such documents;
(iii) take away any such documents for further examination; and (iv) question any director or servant of the licensee.
(2) The directors and servants of the licensee shall assist any person exercising power under this section,
(3) All documents and copics thereof and all other information obtained under this section shall be treated as confidential and used only for the purpose of this Ordinance which shall include any enquiry conducted by the Board.
This printed impression has been carefully compared by me with the Bill which passed the Legislative Council on the 4th day of November, 1964, and is found by me to be a true and correctly printed copy of the said Bill.
(Secretariat CRS/1056/60F)
Chape
Deputy Cik of Councils.
Investigation of licensees" busines