1959-HKRS30-8-49_Part04 — Page 44

Power of the Financial Secretary to Call u

the tornsee and certain persons

dealing with the licensee Lo produce books and statements of account.

Payment of royalty,

Record and accounts.

8. (1) It shall be lawful for the Financial Secretary for the purpose of ascertaining the net profit of the licensee during any period in respect of which royalty is payable under the provisions of regulation 6 or of ascertaining whether any deduction which the licensee has made or may be seeking to make from profits is reasonable, by writing vader his hand to call upon the licensee and any person (other than a banki who has entered into any agreement with the licensee to produce to such person and at such time and place as may by any general or particular description be specified in such writing such books and statements of account (including bank staternents) as he may by such writing require.

(2) The licensee or any person aggrieved by any exercise of the discretion conferred upon the Financial Secretary may appeal, by way of petition, to the Governor in Council whose decision shall be final.

(3) Subject to the right of appeal conferred by paragraph (2), it shall be an offence to fail to comply with any requirement lawfully made under paragraph (1) or any requirement which may have been confirmed or substituted therefor on appeal under paragraph (2): Penalty; & finc of one hundred dollars in respect of each day during which such failure continues.

9. The royalty referred to in regulation & shall be paid within fourteen days of the dispatch to the licensee of the notice of ascertain- ment of the nel profits:

Provided that if the net profits have not been ascertained within six months of the end of the twelve monthly period for which the royalty is duc a provisional royalty equal to five per cent of the licensee's gross sales shall be payable forthwith. As soon as the net profit has been ascertained a final adjustment shall be made and the Government shall refund any sum paid by way of provisional royalty in excess of the royalty due for that twelve monthly period, or if the amounts paid by way of provisional royalty by the licensee are less than the royalty duc. the licensee shall pay to the Government the balance thereof.

10. Every licensee shall keep in relation to the culture of pearls carried on by him-

(d) accurate and regular accounts of all sales by or on his beball

of cultured pearls; and

(6) an accurate record of-

() the total number of live pearl oysters collected, pur. chased or acquired, otherwise than by cultivation;

(ii) the total number of pearl oysters under cultivation from time to time::

(ii) the total number of pearl oysters embedded from lit to time and the dates upon which embedding was effected;

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(iv) the total number of pearl oysters harvested from time to time and the dates upon which harvesting was effected; and (v) the total number of pearls extracted from pearl oysters so harvested.

11. It shall be the duty of every licensee to render to the Director Half yearly not later than the 31st day of January and the 31st day of July in each returns. year u half yearly situation report showing-

(a) a statement of account of sales of cultured pearls during the preceding half year, that is to say, the half year ending on the 31st day of December or the 30th day of June, as the case may be;

(b) the total number of live pearl oysters collected, purchased or acquired, otherwise than by cultivation during the preceding half year;

(e) the total number of pearl oysters under cultivation by him as at the preceding 31st day of December or 30th day of June, as the case may be:

(the total number of oysters embedded as at the preceding 31st day of December or 30th day of June, as the case may be

(e) the total number of pearl oysters harvested during the preced-

ing half year; and

( the total number of pearls extracted during the preceding half

year.

12. The licensee of every cultivation area shall mark such area Marking of by means of buoys of such type and in such number and sited in such cultivation manner as the Director shall approve and the licensee shall cause to be exhibited from each such buoy between the hours of sunset and sunrise

a fixed white light visible all round for a distance of not less than Iwo miles.

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13. No licensee shall use or cause or permit to be used any raft size of rafts. which is so constructed as to exceed five hundred feet in length or sixty feet in breadth.

14. Every licensee shall cause each raft used by him to be at all Mooring of times anchored to the satisfaction of the Director,

rafts.

15. (1) Every licensee shall cause his name to be marked in Marking of conspicuous lettering in English upon each and every raft used by him rafts. and between sunset and sunrise shall cause to be exhibited the following lights-

(a) in the case of a raft exceeding one hundred and fifty feet in

length, a fixed white light visible all round for a distance of not less than one mile situated at each end of the raft at a height of not less than six feet above water level; and