46
Article 4.
It is hereby agreed that in six months after this agreement is officially ratified the Corporation shall provide the amount necessary to proceed with the detailed survey of the Railway whether this amount comes from the sale or hypothecation of the Bonds, or from advances made, provided that Bonds for the required amount shall have been executed and delivered to the Corporation. If after expiration of eight months from the date of the ratification hereof the work of construction shall not have been begun on the Railway this Agreement is to become null and void, but if failure to commence construction be due to any cause beyond the power of the Corporation to prevent a reasonable extension of this time shall be arranged between the Viceroy and the Corporation.
Of the proceeds realised from the sale of the Bonds after deduction so much of them as may be required to be kept in England for the purchase of materials and the payments of contracts there, such amounts as may be estimated and certified to by the Engineer-in-Chief to the Viceroy hereafter mentioned as being actually required for the construction of any particular section of the Railway may be ordered by the Viceroy after consideration to be transferred to Hongkong to be kept in the Hongkong and Shanghai Bank and placed to the credit of the construction account of the Railway for the exclusive purpose of constructing the Railway in the manner herein provided for under the supervision of the Head Office and the Viceroy.
On each occasion of remittance being made to China the amount realised in taels will be reported to the Viceroy and any portion which may not be required shall be placed at interest. Similarly the balance in England shall be placed at interest, to be allowed at the usual rate.
The accounts of the money spent from time to time in England and of the money transferred to the credit of the construction and other accounts for use in China are
46
Article 4.
It is hereby agreed that in six months
after this agreement is officially ratified the Corporation shall provide the amount necessary to proceed with the detailed survey of the Railway whether this amount comes from the sale or hypothecation of the Bonds, or from advances made, provided that Bonds for the required amount shall have been executed and delivered to the Corporation. If after expiration of eight months from the date of the ratification hereof the work of construction shall not have been begun on the Railway this Agreement is to become null and void, but if failure to com- -mence construction be due to any cause beyond the power of the Corporation to prevent a reasonable extension of this time shall be arranged between the Viceroy and the Corporation.
Of the proceeds realised from the sale
of the Bonds after deduction so much of them as may be required
to be kept in England for the purchase of materials and the pay- -ments of contracts there, such amounts as may be estimated and certified to by the Engineer-in-Chief to the Viceroy hereafter mentioned as being actually required for the construction of any particular section of the Railway may be ordered by the Viceroy after consideration to be transferred to Hongkong to be kept in the Hongkong and Shanghai Bank and placed to the credit of the construction account of the Railway for the exclusive purpose of constructing the Railway in the manner herein provid- -ed for under the supervision of the Head Office and the Viceroy.
On each occasion of remittance being
made to China the amount realised in aycee will be reported to the Viceroy and any portion which may not be required shall be placed at interest. Similarly the balance in England shall be placed at interest, to be allowed at the usual rate.
The accounts of the money spent from
time to time in England and of the money transferred to the credit of the construction and other accounts for use in China
are
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