1955-HKRS32-8-64_Part01 — Page 8

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LEGISLATIVE

COUNCIL

Meeting to be held on Wednesday, 13th April, 1955, at 2.30 p.m.

ORDER OF BUSINESS

CONFIRMATION OF MINUTES OF MEETING HELD ON 30TH MARCH, 1955,

PAPERS TO BE LAID

GOVERNMENT BUSINESS,

(1) Urban Council (Commissioner for Resettlement) Ordinance.

195 Resolution.

The Colonial Secretary to move the following resolution :-

Resolved, pursuant to section 3 of the Urban Council

(Commissioner for Resettlement) Ordinance, 1954 that the duration of the said Ordinance be extended for the term of one year with effect from the 30th April, 1955.

(2) Hong Kong and Taumati Ferry Company (Services) Oräinence.

1951 Resolution.

The Financial Secretary to move the following resolution :-

THEREAS

(1) Section 4 of the Hong Kong and Laumati Ferry Company?

(Services) Ordinance, 1951 (hereinafter referred to as "the Ordinance") provides that the ferry services authorised by the Ordinance shall be maintained and operated upon the terme and conditions specified in the Schedule thereto;

(ii) Section 5 of the Ordinance provides that the Schedule

thereto may be varied at any time, with coasent of the Company, by Resolution of Legislative Council;

(iii) Parograph 5 of the Schedule to the Ordinance makes

provision for the Coupany to pay to the Coverament a royalty of twenty-five per cent of the net profit of the Company for each year;

(iv)

It has always been intended that no deduction for

royalty should be made io ascertaining the det profit on which royalty is payable and no such deduction has been made;

(v) Doubt has arisen whether the wording of paragraph 5

of the Sobedule to the Ordinance clearly givea effect to the lateation aforesaid;

(vi) It is desired to remove such doubt;

(vii) The Company has consented to the variation of the

terms of paragraph 5 of the Schedule;

NOW, THEREFORE, BE IT RESOLVED, with the consent of the Company, that sub-paragraph (2) of paragraph 5 of the Sobedule to the Ordinance be varied by the substitution of a semi-colon for the full stop at the end thereof and by the addition of the following

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"and provided further that in ascertaining the net

profit as aforesaid no deduction shall be made of any sum payable as royalty by the Company to the Government. 帅

(3) Supplementary Provisions for the quarter ended 31st

December, 1954.

The Financial Secretary to move the following resolution ;-