1960-HKRS29-8-27_Part01 — Page 26

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15

(Vol. VD, P. 441.

Failure of Company.

Compulsory purchase.

Company or, in default of agreement, as shall be determined by arbitra- tion in accordance with the provisions of Order XXV of the Code of Civil Procedura.

(3) The duration of any such emergency and any such taking-over shall be computed in and not deducted from the term of the grant or of any extension or renewal thereof.

27. (D) Notwithstanding any provision hereinbefore contained if, in the opinion of the Governor in Council, the Company shall bave failed or be likely to fail to make provision for the motor vehicles or organization requisite for carrying on effectively the service to be provided in accordance with the provisions of this Ordinance, the Governor in Council, without prejudice to any other right or remedy, may make such arrangements with any other person as may in his opinion be desirable for the commencement and maintenance of an efficient service on all or any of the routes in the area in which the Company has agreed to provide such service, either in substitution for or in conjunction with the Company and for such period as the Governor in Council may think fit and in such event no compensation shall be claimed by or shall be payable to the Company in respect thereof.

(2) For the purpose of enabling the Governor in Council to ascertain what arrangements have been made or are going to be made by the Company for the proper fulfilment of its obligations under this Ordinance, the Company shall on request of the Colonial Secretary forthwith furnish to the Colonial Secretary such information as to motor vehicles obtained or ordered and all other matters relevant to the organization of the Company as the Colonial Secretary may require.

28. (1) The Governor in Council on the 15th day of February, 1970 and on the 15th day of February in every fifth year thereafter. during the term of the grant or of any renewal thereof, on giving to' the Company not less than twelve months' previous notice in writing may require the Company to sell and thereupon the Company shall sell to the Government or to a nominee of the Government its undertaking, vehicles, land, building, works, materials and plant suitable to and used by the Company for the purpose of fulfilling its obligations under this Ordinance for and on consideration of the then value of the same.

(2) The value referred to in subsection (1) shall be the fair value at the time of the purchase, due regard being had to the cost of all goods, less depreciation and to the then nature, condition and state of repair of the buildings, works, materials, plant and vehicles and to the fact that they are in such condition and repair as to be ready for im- | mediate working and to the suitability of the same for the purpose of

the fulfilment of the obligations of the Company under the Ordinance but without any addition in respect of compulsory purchase or of good- will or of any profits which might have been made from the under- taking or of any similar considerations.

(3) If the Government and the Company are unable to agree the amount to be paid to the Company in accordance with the provisions of this section, the amount shall be determined by arbitration in accordance with the provisions of Order XXXV of the Code of Civil (vol. VII, Procedure.

P. 441

(4) When any such sale has been made and completed all the rights, powers and authorities of the Company in respect of the premises and property sold shall be transferred to and vested in and may be exercised by the Government or by its nominee.

(5) Notwithstanding anything contained in this section, the Government, immediately on the revocation of the grant or on the expiration of any such period as aforesaid in relation to which notice requiring the Company to sell has been given, may take possession and use such of the assets of the Company as the Governor may deem necessary for maintaining an effective service:

Provided that on the revocation of the grant, the Government shall not maintain such possession for longer than three months without compulsorily acquiring such assets and, if such assets are not compul- sarily acquired, the Government shall pay reasonable compensation for use and occupation thereof to be agreed between the Government and the Company or in default of agreement to be determined by arbitra- tion in accordance with the provisions of Order XXV of the Code of Civil Procedure.

(6) The Government shall pay to the Company interest at the rate of four per cent on the amount finally determined for payment by the Government to the Company from the date of any taking-over until the date of payment.

29. (1) Any notice or other communication from the Governor Notices. in Council, the Government, the Authority or from any Government department to the Company may be delivered to or sent by ordinary post to the Company at the registered address of the Company and shall be deemed to be duly served at the time when it was delivered or, if posted, at the time when it ought in due course to be delivered to the address to which it is sent.

(2) Any notice from the Company to the Governor in Council, the Government, the Authority or to any Government department, may be delivered or posted by ordinary post addressed to the addressee at