TNAG-1732-FCO40-2445-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 90

Compar

any can start work in July immediately after the Bill is enacted nactment of the Ordinanca, the tunnel will be open to

public use in August 1991.

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The purpose of this Bill is to give statutory

effect to the franchise and to determine the obligations

The Bill grants the franchise the company must perform.

Compiny to the Tate's Cairn Tunnel Sa Ltd., a Company formed by

It

the Consortium for the purpose of this project. stipulates that the construction period of the tunnel is 37 months. It establishes the obligation of the Company to maintain the tunnel and to provide safe and efficient facilities for the passage of vehicles.

a toll review. mechanism.

It also specifies

Any toll increase will need the

consent of the Governor in Council and will not be granted

as long as the tunnel Company remains reasonably

remunerative.

The mechanism is similar to the ones

governing toll increases for the existing Cross-Harbour Tunnel and the soon to be completed Eastern Harbour

Crossing.

9

ó

Turning/to the main features of the Bill, I shall

This Bill has 11 parts highlight a few important points.

and is modelled on the Eastern Harbour Crossing

Parts I to V deal with the length of the

Ordinance.

franchise, the Company вотраду

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the company shall pay royalties to Government.

structure and the method by which

The rate'

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