TNAG-0351-FCO40-387-Future-of-broadcasting-in-Hong-Kong-1972 — Page 69

Amendment of section 45.

31-

(3) As soon as the net profit of a

licensee for its current accounting year

has been ascertained under section 41

a final adjustment shall be made and

the Government shall refund to the

licensee any sum paid on account in

excess of the royalty due for that year,

or if the amounts paid on account by

the licensee are less than the royalty

due, the licensee shall pay to the

Accountant General the balance thereof.".

21.

Section 45 of the principal Ordinance is

amended in subsection (1) -

(a) by deleting paragraphs (a) and (b) and

substituting the following --

"it is necessary for the proper exercise

of his functions under this Ordinance"; and

(b) by renumbering sub-paragraphs (i), (ii), (iii)

and (iv) as paragraphs (a), (b), (c) and (d),

respectively.