CO129-627-7 Grants of land- new territories 1-12-1950 - 31-12-1951 — Page 40

R

C

ટ્

40

(iii) The Governor proposes to allow your Company

to terminate the contract but it considers that it is under no obligation to return your premium since a tenancy already exists between the Government and your company by virtue of Article 6(c) of the General Conditions of Sale. It proposes however as an act of grace, to refund 75% of the premium paid less H. K. $10,519, being the Crown rent for the first half of 1950 which remains unpaid, waiving the right to Crown Rent for the second half of 1950 and to a refund of out-of-pocket expenses.

If you would kindly let me know as soon as possible whether your Company are prepared to accept termination of the contract on the above terms, we will inform Hong Kong accordingly and arrangements will be made for repaying the premium less the deductions specified above.

As I informed you on the telephone I am quite prepared to discuss this matter with you at any time convenient to you.

Yours sincerely,

(H. P. Hall)

Page 40Page 41