PUBLIC RECORD OFFICE
Reference :-
TPIEC.O. 882
السلسينا
8 PUBLIC RECORD OFFICE, LONDON
ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC- COPYRIGHT PHOTOGRAPH—NOT TO
Pending
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9. Subject to the provisions of this Ordinance and without prejudice to any, proceed- remedy over by the Board to be appointed under Section 23 below against the executing Company—
ings and
contracts.
Payment of com- pensation.
Arbitra- tion.
Appoint- ment of
arbitrator
or arbi-
trators.
Death or
incapacity
of
arbitrator.
Nomina
tion of umpire by arbitrators.
Appoint- ment of umpire by Lord Chict Justice of England if arbitrators fail.
(a.) If on the appointed date any proceeding or any cause of action is pending or existing by or against the Company the same shall not abate be discontinued or be in any way prejudicially affected by reason of the transfer to the Government of the undertaking of the Company or of anything in this Ordinance; but the proceeding or cause of action may be continued prosecuted and enforced by or against the Board as it might have been by or against the Company if this Ordinance had not been passed but not further or otherwise;
(b.) All contracts deeds bonds agreements and other instruments subsisting immediately before the appointed date affecting the Company shall be of as full force and effect against or in favour of the Board and may be enforced as fully and effectually as if instead of the Company the Board had been a party thereto.
10. There shall be paid out from the funds of the Colony to the Company compensation for the taking over of the undertaking of the Company and it shall be lawful for the Directors of the Company to agree with the Government as to the sum to be paid as compensation for the taking over of the undertaking of the Com- pany. If the Directors of the Company fail to agree with the Government as to the sum to be paid as compensation for the taking over of the undertaking of the Company the sum to be so paid shall be determined by arbitration. If the Directors of the Company shall notify to the Government in writing within three months after the sum to be paid as compensation for the taking over of the undertaking of the Company has been ascertained in manner provided by this Ordinance that they are willing to take the whole or any part of the sum payable in inscribed stock of the Colony such sum may be discharged in inscribed stock of the Colony.
11. For the purpose of the arbitration mentioned in the last preceding section a Court shall be constituted in the manner following that is to say:-
(a) Unless the Government and the Company shall concur in the appoint- ment of a single arbitrator they shall each of them nominate and appoint an arbitrator and after such appointment shall have been made neither party shall have power to revoke the same without the consent of the other party;
If either party fails to appoint an arbitrator for twelve months after the appointed date the arbitrator appointed by the other party shall act as sole arbitrator.
(b.) If before the matters referred to arbitration shall be determined the arbitrator appointed by either party die or become incapable the party by whom such arbitrator was appointed may nominate and appoint some other person to act in his place and if for the space of forty-two days after notice in writing from the other party for that purpose the said party fail to do so the remaining or other arbitrator may proceed ex parte and every arbitrator to be substituted as aforesaid shall have the same powers and authorities as were vested in the former arbi- trator at the time of such his death or disability as aforesaid.
(c) If more than one arbitrator shall have been appointed such arbitrators shall before they enter upon the matters referred to them nominate and appoint by writing under their hands an umpire to decide on any such matters on which they shall differ and if such umpire shall die or become incapable to act they shall forthwith after such death or incapacity appoint another umpire in his place and the umpire so appointed shall have the same powers and authorities as were vested in the umpire last appointed at the time of his death or incapacity
to act;
(.) If the arbitrators shall refuse or shall for forty-two days after the request of either party neglect to appoint any such umpire the Lord Chief Justice of England may on the application of either party appoint an umpire;
(e.) Any arbitrator or umpire appointed under the provisions of this Ordinance in substitution for an arbitrator or umpire dying or becoming incapable
145
to act shall be at liberty to act upon all or any part of the evidence taken before the arbitrators and umpire prior to his appointment as reported to him by the continuing arbitrators or the continuing arbi- trator and umpire and to make his award thereon.
(f.) If the umpire is unable to attend any sitting of the Court he shall be at liberty to act upon all or any part of the evidence taken before the arbitrators at such sitting as reported to him by the arbitrators and to make his award thereon.
final.
.
tion Court.
(g.) The decision of the umpire on the matter on which the arbitrators shall Decision of
differ shall be final.
umpire 12. In the event of no agreement being arrived at by mutual consent as pro- Sittings vided for in Section 10 within three months from the appointed date the Court shall and pro- be constituted as soon thereafter as conveniently may be. It shall hold all sittings ceedings of necessary for hearing evidence and the arguments of counsel on behalf of the Arbitra- Government and the Company in the Colony and may hold other sittings in such other places as the Court shall think convenient and it shall not be obligatory on the Court to make or publish its award hile sitting in the Colony and the provisions Ordinance of "The Arbitration Ordinance 1890 relating to (a) the administration of oaths XIII. of and the taking of affirmations and (b) the correction in an award of mistakes and 1890. errors; and (c) the summoning attendance and examination of witnesses and the production of documents shall apply to its proceedings but save as aforesaid Arbitration Ordinance 1890" shall not be applicable to the proceedings under this 180. Ordinance nor shall Sections 98 to 125 of The Companies Ordinance 1889" be Ordinance applicable thereto.
Ordinance "The XIII. of
V. of 1889,
law of
13. It shall be lawful for any barrister-at-law of England to appear as counsel Barrister-at- on behalf of the Government or the Company before the Court notwithstanding England may anything in "The Courts Ordinance 1878" and The Civil Procedure Ordinance appear before 1878" and that he shall not have been admitted as an Advocate and Solicitor of Ordinance the Supreme Court of the Straits Settlements.
the Court.
III. of 1878, Ordinance V.
Fixing
14. In fixing the sum to be awarded as compensation the Court shall determine of 1878. the value of the undertaking as if with the necessary modifications the law of com- amount of pensation for the purposes of the Lands Clauses Acts of the Imperial Parliament compensa- were applicable to the case. Provided that the Court shall not make any allowance tion. for compulsory sale and shall not take into account any enhancement or depreciation of the market value of any stock or shares of the Company which in the opinion of the Court was caused by or resulted from the passing or the anticipation of the passing of this Ordinance; but the Court may make such allowance as it thinks just for the recoupment of any loss interest pending re-investment as well as for the cost of re-investment. The Court in awarding the compensation under this Ordi- nance shall consider whether any liabilities incurred by the Company after the 10th of December 1904 were necessarily and properly incurred for the purpose of carrying on the ordinary business of the Company since that date.
15. As soon as the compensation due to the Company shall have been duly Liquida. paid or satisfied to the Company in accordance with this Ordinance the Company tion of shall enter upon a liquidation of its affairs. The Court in its award shall allow Company. such sum as may appear reasonable to cover the costs charges and expenses of liquidation.
in colonial
16. If any part of the compensation is to be discharged to the Company in Payment inscribed stock of the Colony if so required by the Company before the stock is issued of com- to the Company instead of issuing to the Company the whole of the stock so to be pensation issued to them the Government may issue the stock to such amounts and to such stock. persons as the Company may require and the issue of stock in accordance with such requirements shall to that extent discharge the Government of its liability to issue stock to the Company.
given on
17. If any part of such compensation is to be discharged in cash the receipt By whom of three Directors of the Company or of three members of the London Committee receipts of the Company for any sum in gross to be paid by the Government to the Company may be shall effectually discharge the Government for the sum expressed in such receipt behalf of to have been received and from being concerned to see to the application thereof the Com and from being answerable or accountable for the loss misapplication or application thereof.
non- pany,
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