85
Considera.
tion for licence.
Royalty or percentage of gross receipts.
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or such substituted, altered, amended, increased, modified or addi- tional fares as may from time to time and for the time being be fixed and prescribed by the Governor in Council: Provided that, without the consent of the Licensee, no change shall be made in the maximum fares itemised in the said Schedule B during the first three years of the said period of fifteen years; thereafter the fares to be demanded and taken shall be the current fares fixed and prescribed by the Governor in Council, regard being had as well to the Licensee as to the general public. Provided also that in respect of any route or of any route section not specified in the said Schedule B and in respect or section which is or shall be varied, extended or added, then the maximum fare or fares which may be demanded and taken by the Licensee, whether before or after the expiration of the said first three years, shall be that or those fixed and prescribed by the Governor in Council. Save as in this condition provided the Licensee shall not demand or take from any passenger any fare exceeding the current fares scheduled, or fixed and prescribed as aforesaid.
9. The Licensee shall pay to the Colonial Treasurer on the seventh day of each and every month in respect of the preceding month of this licence, including each and every month of any and every extension thereof (if any), the following royalty or percentages upon the gross annual receipts of the Licensee, that is to say:-
If and when the gross annual receipts do not exceed $1,000,000, the percentage on such gross annual receipts shall be 14%;
If and when the gross annual receipts exceed $1,000,000 but do not exceed $1,500,000, the percentage on such gross annual
and receipts shall be 15%;
If and when the gross annual receipts exceed $1,500,000, the percentage on such gross annual receipts shall be 17%.
The Royalty payable in respect of each month shall be calculated on the assumption that the gross receipts for that month represent the average gross monthly receipts throughout the then current year of the term of the licence, but within fourteen days after the expira- tion of each year of the term of the licence an account shall be taken of all gross receipts during the year and of the royalty payable for the year as ascertained and determined by reference to the ap- propriate percentage or percentages for the gross receipts for the year as shown by such account and there shall forthwith be paid by the Licensee to the Colonial Treasurer or refunded by the Colonial as shall be shown to be Treasurer to the Licensee such sum due upon such account after giving credit for all monthly sums paid by way of royalty during the period covered by the account, and in the event of the determination of the licence otherwise than at the end of a complete year of its term a like account shall be taken and like adjustment made for the period since the end of the preceding year, and for the purpose of such an account the appro- priate royalty shall be determined by assuming that the gross receipts for the period covered by the account would have been maintained at the same level throughout the complete year.
No alteration or change of the fares to be demanded or taken by the Licensee shall affect the percentages of the gross receipts or give rise to any claim by the Licensee.
The percentages to be paid on the gross receipts shall not be varied or affected by any variation in the rates of Customs or other
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duties or the imposition of any new duties upon petrol or other light oil or spirit or any other thing used as fuel or any oil used in connec- tion with the service or services affected by this licence or by any requirement for increase, extension, curtailment, alteration or varia- tion of the routes, sections or stopping places of the service affected by this licence unless the Governor in Council in his discretion shall see fit to allow a reduction.
The acceptance by the Colonial Treasurer of any payment tendered by the Licensee shall in no way debar or preclude any claim to a further sum or to any adjustment appearing to be due or neces- sary or required upon the examination or final acceptance of the Licensee's accounts referred to in condition No. 10; or any of them, by the Colonial Treasurer.
10. The Licensee shall keep the following records in respect Records and
of every service, namely:-
(1) number of motor vehicles running;
(2) number of daily journeys and mileage run by each
vehicle;
(3) number of passengers carried by each vehicle for each
journey; and
(4) details of receipts in respect of each section and route;
and shall permit the Governor or any person authorised by him to inspect all such records and also all accounts kept by the Licensee in connexion with every service and all stocks of tickets, and the Licensee shall afford all such facilities for such inspection as may from time to time be required.
The Licensee shall, from time to time and as and when the same may be required, deliver to the Colonial Treasurer accounts and balance sheets, audited and certified by a chartered accountant or accountants approved by the Governor in Council showing the takings of the Licensee.
accounts to
be kept and
furnished.
in respect
service.
11. The Licensee shall forfeit to the Crown and pay to the Forfeiture Colonial Treasurer in respect of each route for the time being as to of failures which there shall be a failure as hereinafter mentioned a sum of One in the hundred dollars, as predetermined and agreed damages, for each day on which the Licensee shall in the opinion of the Governor in Council, fail substantially to supply an efficient and adequate service on such route; provided that such failure is not in the opinion of the Governor in Council due to unavoidable accident or to weather or to other causes beyond the control of the Licensee. Any payment due under this condition shall be made to the Colonial Treasurer by the Licensee within seven days after the service upon the Licensee of a notice in- forming him of the opinion of the Governor in Council. The Licensee has made a deposit to secure the due observance and performance on the part of the Licensee of this licence: In the event of resort to such deposit the reduction consequent upon such resort shall be forthwith made good and the amount of such deposit fully maintained by the Licensee.
licence.
12. If in the opinion of the Governor in Council there has Cancellation been a substantial failure on the part of the Licensee to comply with of the the provisions of any of the conditions of this licence or with the provisions of the Vehicles and Traffic Regulation Ordinance, 1912, and
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