1960-HKRS29-8-27_Part04 — Page 10

Addition of

new section

67.A.

24. The principal Ordinance is amended by the addition therelo, after section 67, of the following new section-

"Power of

Land Officer and Com-

missioner to require giving of security, and provisious

in connexion therewith.

67A. (1) In the case of a mining lease, the Land Officer, and, in the case of a prospecting or mining licence. the Commissioner, may—

(a) as a condition precedent to the grant or renewal

thereof; or

(b) at any time during the currency thereof. require the person to whom the lease or licence is to be granted or whose lease or licence is to be renewed or the lessee or licensee as the case may be, to give, within such reasonable period as be may specify, security for any one or more or all of the following—

(i) any sum which may become payable under section

34 by way of compensation;

(ii) any sum which may become payable to the Crown

by way of royalties, rental or fees;

(iii) any som which may become payable to the Crown by way of damages or otherwise in respect of any contravention of any term, covenant or condition of the lease or licence or which may become pay. able to the Crown under such terms, covenants or conditions or under any regulations made under this Ordinance or otherwise.

(2) Where security has been given in accordance with the provisions of subsection (1), the Land Officer, in the case of a mining lease, and the Commissioner, in the case of a prospecting or mining licence, may, so long as the lease or licence is in force, require the lessee or licensee to give, within such period as he may specify, additional security for any one or more or all of the matters set out in subsection (1).

(3) Such security or additional security shall be of such amount as the Land Officer or the Commissioner, W the case may be, shall determine and may be given by way of the deposit of cash with the Accountant General or the guarantee of such bank or other person as may be approved, for the time being, by the Accountant General.

(4) Where security (which expression shall include; where applicable, additional security) has been given in accordance with the provisions of this section, and, at any time, the same has become reduced or been extinguished by reason of any payment therefrom or for any other reason, the lessee or licensee, as the case may be, shall,

so long as the lease or licence is in force and upon being required so to do by the Land Officer or the Commissioner. as the case may be, give such further security, in the man- ner specified in subsection (3), as may be necessary to restore such security to an amount not less than the amount of the same immediately prior to such reduction or extin- guishment,

(5) Without prejudice to any other provisions of this Ordinance, where any lessee or licensee fails to comply with-

(a) any requirement of the Land Officer or the Com- missioner made, under subsection (1), during the currency of any lease or licence;

(b) any requirement of the Land Officer or the Commissioner made under subsection (2); or

(c) the provisions of subsection (4),

the Land Officer or the Commissioner, as the case may be, may forthwith determine the lease or licence by notice in writing to the lessee or licensee, and thereupon the lease or licence shall be deemed to have been determined in the same manner as if it had been determined in consequence of a breach of a term, covenant or condition thereof.

(6) (a) Where the amount of any compensation pay- able under section 34 has been finally determined and the same has not been paid within fifteen days of such determination, it shall be lawful for the Accountant General to pay the same to the person entitled thereto out of any cash deposited under the provisions of this section, so far as the same will allow.

(5) For the purposes of paragraph (a), the amount of any compensation shall be deemed to have been finally determined-

() when the same has been agreed; or

(1) where the same has been determined by the Commissioner under subsection (2) of section 34, if, within the time limited therefor by sub- section (3) of that section, neither party has appealed to the Mining Compensation Board; or (iii) in the event of an appeal under the said subsection (3) when the same has been deter- mined by the Mining Compensation Board.