1951-HKRS28-8-18_Part01 — Page 34

Dis- continuance of ferry services.

Insolvency of Company.

Non- payment

of pier rent

다

royalty.

of shall be deemed to have been discontinued and the provisions the making of the order be at an end and the concession shall of paragraph 8 of this Schedule shall apply.

rease and determine at the expiration of the said period.

8. (1) If in the opinion of the Governor in Council the Company has discontinued the working of the ferry services or any part thereof for a period of fourteen days the Governo in 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 services or an 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 Gt in the public interest for the temporary maintenance of such ferry services or part thereof.

(3) Any net loss incurred by or on behalf of the Govern ment in consequence of the making of any such arrangement as is contemplated in sub-paragraph (2) shall be recoverable by the Government from the Company.

(4) The fact that any such arrangement as is contemplated in sub-paragraph (3) has been made shall not prevent the running of the period of fourteen days referred to in sub-paragraph (1).

(5) This paragraph shall not apply to any discontinuance which in the opinion of the Governor in Council is due to circum stances beyond the control of the Company, but the want of sufficient funds shall not for the purpose of this paragraph be deemed to be a circumstance beyond the control of the Company

A. If it appears to the Governor in Council that th Company is insolvent so that it is unable to maintain the ferry services or any part thereof or to operate the same with advantage to the public, the Governor in Council may inquire into the financial affairs of the Company, and if satisfied that the Compan is so insolvent as aforesaid, may by order declare that the con cession shall at the expiration of three months from the making of the order be at an end, and the concession shall cease and determine at the expiration of the said period.

10. If the Governor in Council be satisfied that the Company has without just cause or excuse failed to pay pier rent or royalty, when due, it shall be lawful for the Governor in Council by order to be served on the Company and published in the Gazette to direct that the concession at the expiration of three months from

of piers.

11. The Company shall at its own expense maintain and keep Repair in repair the piers and carry out any alterations which may be required by the Company and approved by the Director of Public Works from time to time: Provided that the Company shall not be responsible for the cost of repairs made necessary by Act of God. civil commotion, war or latent defects or subsidence,

damage shall rest upon the Company : but the onus of proving the cause and the extent of the Provided further that if, at the end of each period of three years within the subsistence of the concession, the cost of approved repairs has exceeded an annual average of $400,000 the sum by which the aggregated costs of repairs for the three years exceeds $1,200,000 shall be refunded to the Company or allowed in reduction of sums payable in royalty under paragraphs of this Schedule.

12. Except as may be permitted by the Governor in Council, Use of the Company shall not use the piers for any purpose other than piers. the requirements of the ferry service.

13. Subject to the provisions of the Advertisements Regula- Advertising tion Ordinance, rota, the Company may use the piers for on piers. advertising purposes: Provided that eighty per cent of the Ordinance revenue derived by the Company from such purposes shall be 19 of 1912. paid to Government.

No.

14. The Company shall not assign or transfer the concession Not to or any powers, rights or privileges granted thereunder without the assign. permission of the Governor in Council.

for

15. To enable the Accountant General to satisfy himself as to Facilities correctness of the amount of each royalty payment the Company Accountant shall with each payment furnish to the Accountant General General. complete monthly traffic accounts duly certified and audited and give the Accountant General all reasonable facilities for inspection of the Company's records and complete statements showing the computation of the royalty due to the Government, as may be required by the Accountant General.

interest.

18. (1) The Company has represented that the majority of British the directorate are and will continue to be British subjects; that the management and the administrative staff or an effective majority thereof to the satisfaction of the Governor in Council, are and will be British subjects; that the control is and will be within the Colony and essentially British; that at all times and