976
No. 10 of 1902.
TRAMWAY.
Royalties.
Royalties to Government.
47.-(1) In consideration of the rights, powers and authorities hereby granted or conferred, the company shall pay to the Government the following royalties-
(a) from and after the 22nd day of September, 1914, for the period of twenty-five years-five per cent. per annum of the profits;
(b) from and after the 22nd day of September, 1939, and for so long as the company exercises its said rights, powers and authorities-twenty-five per cent. per annum of the profits.
For the purposes of this section profits shall be the gross takings of the company less working expenses, and such working expenses shall not be deemed to include any interest or dividends upon any moneys borrowed for the purposes of the company.
(2) Any person appointed by the Government as auditor for the purpose may at all reasonable times inspect the books, papers and vouchers of the company and take notes therefrom.
(3) In the event of any dispute arising between the Government and the company as to what is, for the purposes of this section, the correct amount of the profits of the company in any particular year, such amount shall be determined upon a special case.
Fares for passengers.
Fares and charges.
48. The company may demand and take for every passenger travelling upon the tramway or any portion thereof, fares not exceeding the following rates—
(1) from or to the point where Section No. 1 is authorized to commence to or from the General Post Office, for any distance for a first class passenger fifteen cents, for a second class passenger ten cents and for a third class passenger five cents;
* As amended by Law Rev. Ord., 1939.
976
No. 10 of 1902.
TRAMWAY.
Royalties.
Royalties to Government.
47.-(1) In consideration of the rights, powers and author- ities hereby granted or conferred, the company shall pay to the Government the following royalties-
(a) from and after the 22nd day of September, 1914, for the period of twenty-five years-five per cent. per annum of the profits;
(b) from and after the 22nd day of September, 1939, and for so long as the company exercises its said rights, powers and authorities-twenty-five per cent. per annum of the profits.
For the purposes of this section profits shall be the gross takings of the company less working expenses, and such work- ing expenses shall not be deemed to include any interest or dividends upon any moneys borrowed for the purposes of the company.
(2) Any person appointed by the Government as auditor for the purpose may at all reasonable times inspect the books, papers and vouchers of the company and take notes therefrom.
(3) In the event of any dispute arising between the Govern ment and the company as to what is, for the purposes of this section, the correct amount of the profits of the company in any particular year, such amount shall be determined upon a special case.
Fares for passengers.
Fares and charges.
48. The company may demand and take for every passenger travelling upon the tramway or any portion thereof, fares not exceeding the following rates—
(1) from or to the point where Section No. 1 is authorized to commence to or from the General Post Office, for any dis- tance for a first class passenger fifteen cents, for a second class passenger ten cents and for a third class passenger five cents;
* As amended by Law Rev. Ord., 1939.
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