TRAMWAY.
No. 10 of 1902.
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any subsequent period of five years, or at the expiration of three months after the making of any order under section 29 or section 30, on giving to the company a notice in writing in manner following-
(a) at least six months' notice prior to the expiration of such fifty years;
(b) at least six months' notice prior to the expiration of any such subsequent period of five years;
(c) at least two months' notice prior to the expiration of such three months,
require the company to sell and thereupon the company shall sell to the Government its undertaking, and all lands, buildings, works, materials and plant of the company suitable to and used by the company for the purposes of its undertaking, for and in consideration of the then value of the same:
Provided that the value aforesaid shall be deemed to be the fair value at the time of the purchase, due regard being had to the cost of construction less depreciation, and to the then nature, condition and state of repair of the buildings, works, materials and plant, and to the fact that they are in such a condition and state of repair as to be ready for immediate working, and to the suitability of the same for the purposes of the undertaking, but without any addition in respect of compulsory purchase, or of goodwill, or of any profits which might have been made from the undertaking, or of any similar considerations. In case of difference such value as aforesaid shall be determined by a special case. When any such sale has been made and completed all the rights, powers and authorities of the company in respect of the premises sold, or where any order has been made by the Governor in Council under section 29 or section 30 all the rights, powers and authorities of the company previous to the making of such order in respect of the premises sold, shall be transferred to and vested in and may be exercised by the Government.
Motive power.
32. The cars used on the tramway shall be moved by electric power conveyed by means of a bare overhead wire and the rails of the tramway: Provided always that the exercise of the powers by this section conferred with respect to the use of
* As amended by Law Rev. Ord., 1939.
TRAMWAY.
No. 10 of 1902.
971
any subsequent period of five years, or at the expiration of of tramway. three months after the making of any order under section 29 or section 30, on giving to the company a notice in writing in manner following-
(a) at least six months' notice prior to the expiration of such fifty years;
(b) at least six months' notice prior to the expiration of any such subsequent period of five years;
(c) at least two months' notice prior to the expiration of such three months,
require the company to sell and thereupon the company shall sell to the Government its undertaking, and all lands, buildings, works, materials and plant of the company suitable to and used by the company for the purposes of its undertaking, for and in Provided that the consideration of the then value of the same:
value aforesaid shall be deemed to be the fair value at the time of the purchase, due regard being had to the cost of construction less depreciation, and to the then nature, condition and state of repair of the buildings, works, materials and plant, and to the fact that they are in such a condition and state of repair as to be ready for immediate working, and to the suitability of the same for the purposes of the undertaking, but without any addition in respect of compulsory purchase, or of goodwill, or of any profits which might have been made from the under- taking, or of any similar considerations. In case of difference such value as aforesaid shall be determined by a special case. When any such sale has been made and completed all the rights, powers and authorities of the company in respect of the premises sold, or where any order has been made by the Governor in Council under section 29 or section 30 all the rights, powers and authorities of the company previous to the making of such order in respect of the premises sold, shall be transferred to and vested in and may be exercised by the Government.
Motive power.
*
32. The cars used on the tramway shall be moved by electric Motive power conveyed by means of a bare overhead wire and the rails power. of the tramway: Provided always that the exercise of the powers by this section conferred with respect to the use of
* As amended by Law Rev. Ord., 1939.
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