1656
No. 9 of 1925.
TELEPHONE.
Concession is not transferable and is exclusive.
the Government gives notice of its intention to take over and purchase the same, and it shall be lawful for the Government forthwith to enter in and upon the premises of the company wheresoever situate and to exercise all acts of ownership over all exchanges, plant, apparatus, lines and cables and all other property of the company of whatsoever nature including any contractual rights or obligations and all books of account or other documents used by the company in its undertaking.
Upon any such taking over and purchase and at all times thereafter the company shall on demand execute and do all such assurances and things as may be reasonably required by the Government for assuring and vesting the undertaking in the Government or as it may direct.
The undertaking so taken over as aforesaid shall as soon as reasonably possible be paid for by the Government in accordance with the then condition and value thereof and any dispute or difference between the parties as to the amount so to be paid shall be referred to arbitration in accordance with the provisions of section 52.
Upon any such taking over the Government shall not be compelled to purchase any plant, apparatus, machinery or any other property whatsoever of the company which is then obsolete or unserviceable.
Upon any such taking over nothing shall be paid for or allowed in respect of the goodwill of the company's undertaking or for any loss of estimated profits resultant on such taking over, or for any profits whatever except up to and including the date of such taking over.
The Government shall pay to the company interest at the rate of eight per cent. per annum upon the amount of the purchase money from the date of taking over until the date of payment.
47. The concession is personal to the company, and the company shall not, without the previous written consent of the Governor in Council, assign, transfer, mortgage, charge, lease or otherwise dispose of the concession or the benefit thereof or of
* As amended by No. 9 of 1930 [15.8.30] and Law Rev. Ord., 1939, Supp. Sched.
1656
No. 9 of 1925.
TELEPHONE.
Concession
is not trans- ferable and is exclusive.
the Government gives notice of its intention to take over and purchase the same, and it shall be lawful for the Government forthwith to enter in and upon the premises of the company wheresoever situate and to exercise all acts of ownership over all exchanges, plant, apparatus, lines and cables and all other property of the company of whatsoever nature including any contractual rights or obligations and all books of account or other documents used by the company in its undertaking.
Upon any such taking over and purchase and at all times thereafter the company shall on demand execute and do all such assurances and things as may be reasonably required by the Government for assuring and vesting the undertaking in the Government or as it may direct.
The undertaking so taken over as aforesaid shall as soon as reasonably possible be paid for by the Government in accord- ance with the then condition and value thereof and any dispute or difference between the parties as to the amount so to be paid shall be referred to arbitration in accordance with the provisions of section 52.
Upon any such taking over the Government shall not be compelled to purchase any plant, apparatus, machinery or any other property whatsoever of the company which is then obsolete or unserviceable.
Upon any such taking over nothing shall be paid for or allowed in respect of the goodwill of the company's undertaking or for any loss of estimated profits resultant on such taking over, or for any profits whatever except up to and including the date of such taking over.
The Government shall pay to the company interest at the rate of eight per cent. per annum upon the amount of the purchase money from the date of taking over until the date of payment.
47. The concession is personal to the company, and the company shall not, without the previous written consent of the Governor in Council, assign, transfer, mortgage, charge, lease or otherwise dispose of the concession or the benefit thereof or of
* As amended by No. 9 of 1930 [15.8.30] and Law Rev. Ord., 1939, Supp. Sched.
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