CO129-525-12 Transfer of Government wireless services to imperial and international communications Ltd 20-3-1930 - 7-1-1931 — Page 37

rates.

Three months' previous notice in writing of such requirement shall be given by the party requiring revision to the other party, and thereupon, and in default of agree- ment between such parties with regard to such revision, the matter shall be referred to arbitration in accordance with the provisious of section 49. Either of such parties shall be entitled to place before the arbitrators any evidence which such party shall think fit relative to the subject of such application, and the arbitrators shall be entitled to require the Company to produce such books as may be necessary and to require an investigation of and report upon the Company's affairs to be made and prepared, at the cost of such party as may be decided by the arbitrators, by such independent anditor as the arbi- trators may think fit.

If the arbitrators are of opinion that the then exist- ing charges for subscriptions are insufficient to make provision for the maintenance of an efficient service and for the payment for the time being of a dividend of eight per cent per annum on the paid-up capital for the time being of the Company, the arbitrators shall require and the Government shall permit such charges to be increased to such sum as the arbitrators may consider adequate to provide for such service and dividend as aforesaid,

If, however, the arbitrators are of the opinion that the then existing charges exceed the amount required to pro- vide for the time being for such service and a maximun dividend of fifteen per cent per annum on the paid-up capital for the time being of the Company, they shall require the Company to reduce such charges to such sum as the arbitrators shall consider adequate for the provision of such service and payment of such dividend as afore- said, and the Company shall forthwith reduce such charges accordingly.

ment service

38. All lines, branch lines and extensions required by Lines, etc., the Government to be supplied by the Company to the for Govern- Government shall be paid for in accordance with the rates to be paid of subscription specified in the Schedule or such revised for at usual rates as are provided for in section 37.

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rates of subscription.

39.—(a) The Company shall keep true and particular Company accounts of and concerning all matters connected with to keep and the concession and will on the first day of July, in allow

inspection of every year, deliver to the Treasurer a statement in writing, accounts. showing the number of subscribers connected with each exchange and the number of persons who have requested to be supplied with lines during the preceding twelve months, and also the names and addresses of all persons who have requested to be supplied with lines during the preceding six mouths and with whose request the Company has not complied. The Company shall permit the Trea- surer to inspect and take copies of or extracts from the books of account, receipts, papers and documents in the possession or under the control of the Company and relating wholly or in part to the subject matter of this Ordinance. The Company shall cause all its books to be kept in Hongkong at its registered office.

(b) The annual statement of accounts of the undertaking shall be examined and audited by such person or persons as the Governor in Council may approve in this behalf.

of works.

40. The Company shall at all times during the cou- Company tinuance of the concession, permit the Director or his agent to permit authorised in writing in that behalf to enter the premises inspection of the Company at all reasonable times and to inspect and take account of all plant, fittings, apparatus or other material thereon, and shall, upon written demand, furnish to the Director all such particulars, information and accounts relative to the conduct of the Company's business and such other evidence as he may require of the due performance by the Company of its obligations under this Ordinance,

41. If upou any reference to arbitration it shall be held Penalty that the Company has committed any breach of section 33, for breach of the arbitrators shall require the Company to pay the section 33 Treasurer such sum as the Governor in Council shall think it not exceeding one hundred dollars for every such

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