233
234
53
56
No. 11 of 1951.
Fares and charges.
HONG KONG AND YAUMATI FERRY COMPANY (SERVICES)
(2) If any other pier be substituted for a pier specified in Appendix I, the amount of the rent therefor shall be such sum as may be agreed between Government and the Company regard being had to the capital cost of the said substituted pier (exclud- ing the cost of frontage) and including interest on capital cost at the rate of 4% : Provided that if such agreed sum results in the monthly total of rent payable as aforesaid being exceeded, then the amount of such excess shall be deducted from the monthly royalty payable under paragraph 5 of this Schedule.
4. (1) The maximum fares and charges which may be taken by the Company shall be those specified in Appendix II, or such other fares and charges as may from time to time be fixed by the Governor in Council as fair and reasonable having regard as well to the Company as to the general public.
(2) If by reason of a material change of economic or financial conditions or of any other circumstances affecting the ferry services, the fares and charges for the time being authorized are, in the opinion of the Company, no longer reasonably remunera- tive, and the Governor in Council upon the request of the Company fails to authorize increased fares and charges to an amount as would, in the opinion of the Company, be reasonably remunerative, the question shall be submitted to arbitration, and the Company may charge such increased fares and charges as may be decided upon arbitration to be reasonable, having regard to any change of economic and financial conditions, or other circumstances affecting the service: Provided that the Governor in Council may at any time, if in his opinion a further change of economic or financial conditions or other circumstances shall have occurred affecting the ferry services and rendering such increased fares and charges unduly high, call upon the Company to make such reduction in the fares and charges as in the opinion of the Governor in Council is reasonable, and, if the Company fails to make such reduction voluntarily, the matter shall be referred to arbitration and the fares and charges which the Com- pany shall thereafter be entitled to charge shall be such fares and charges as shall have been decided upon arbitration to be reason- able, having regard to such further change of economic or financial conditions or other circumstances affecting the service.
(3) Whenever under the last preceding sub-paragraph the Governor in Council is of opinion that an increase in fares and charges may be authorized by him or that he would be justified in calling upon the Company to reduce the fares and charges, the Governor in Council may instead vary the rate of royalty in
HONG KONG AND YAUMATI FERRY No. 11 of 1951.
COMPANY (SERVICES)
N
nber of Vote
Title of Vote
40.
Supreme Court
41.
Treasury
42.
Cooperatives and Marketing Department.
TOTAL
Amount of Vote
473,361
842,973
193,295
234,669,050
Passed the Legislative Council of Hong Kong, this 28th day of March, 1951.
R. W. PRIMmrose, Deputy Clerk of Councils.
HONG KONG
No. 11 OF 1951.
I assent.
L.S.
A. G. GRANTHAM, Governor.
29th March, 1951.
An Ordinance to authorize The Hong Kong and Yaumati Ferry
Company, Limited, to maintain and operate ferry services.
[30th March, 1951.]
BE it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof :
1.
This Ordinance may be cited as The Hong Kong and Short title, Yaumati Ferry Company (Services) Ordinance, 1951.
2. In this Ordinance-
Inter-
"Company" means The Hong Kong and Yaumati Ferry pretation.
Company, Limited;
"concession" means the exclusive right to maintain and operate
the ferry services;
"ferry services" means the ferry services authorized by section 4; "frontages" means the frontages specified in Appendix I to the
Schedule ;
"piers" means the Government piers specified in Appendix I to
the Schedule;
}
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