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Wednesday, March 13, 1974
RENEWAL OF BUS FRANCHISES
Plans For Govt. Representation On KMB And CMB Boards
The Kowloon Motor Bus Company and the China Motor Bus Company
have both been informed that their franchises, which are due to expire
in February 1975, will not be renewed under the present terms.
Announcing this today, a government spokesman said that detailed
negotiations will be held with the companies regarding the terms for new
franchises which will be embodied in fresh legislation.
**These franchises will ensure that the government is in a position
to influence the operations of the companies effectively by closer participation
in their affairs," he added.
"Proposals are under consideration which will allow the government
to obtain a portion of the equity and to nominate government officers to
serve on the boards of the two companies.
"It is hoped that agreement can be reached soon so that plans
for improvements to the companies' services can proceed with all due speed."
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