1984 Ed.]
Cross-Harbour Tunnel
[CAP. 203
17
(3) Whenever a closure is effected under this section in pursuance of a requirement of the Director, the tunnel or such part thereof thereby affected shall not be re-opened to the use of the public without the prior consent of the Director.
PART VI
REVOCATION AND EXPIRATION OF THE GRANT, AND Winding Up OF COMPANY
51. (1) If in the opinion of the Governor in Council--
(a) the Company has failed, or appears to be likely to fail, to complete the tunnel structure by the date required by section 28(1), or to provide or operate the tunnel facilities, or to maintain the tunnel structure as required by this Ordinance; or
(b) there has been a substantial failure of the Company to comply with any of the provisions of this Ordinance or of the Cross-Harbour Tunnel (Passage Tax) Ordinance,
the Governor in Council may direct the Commissioner to serve on the Company a notice specifying the grounds for any such opinion and requiring the Company to show cause in writing to the Governor in Council, within 28 days after the date of such service, why the grant should not be revoked. (Amended, 28 of 1984, s. 10)
(2) If the Company fails, within 28 days after such service, to show sufficient cause why the grant should not be revoked, or if the Governor in Council, after considering any representations made by the Company, or by any other person having a financial interest in the Company, is of the opinion that the Company, or such other person, has not shown sufficient cause why the grant should not be revoked, the Governor in Council may by order revoke the grant and such revocation shall take effect from the date specified in the order.
(3) An order made under subsection (2) shall be served on the Company and, as soon as is practicable thereafter, shall be published in the Gazette.
52. All rights and obligations of the Company under this Ordinance shall determine and the assets of the Company shall vest in the Government-
(a) subject to section 53, on-
(i) the commencement of any voluntary winding up of the Company, otherwise than for the purposes of an assignment in accordance with section 5;
(ii) the making of a winding up order in respect of the Company;
(iii) the revocation of the grant under section 51;
Revocation of the grant.
(Cap. 274.)
Effect of winding up of Company or cessation of grant.
1984 Ed.]
Cross-Harbour Tunnel
[CAP. 203
17
(3) Whenever a closure is effected under this section in pur- suance of a requirement of the Director, the tunnel or such part thereof thereby affected shall not be re-opened to the use of the public without the prior consent of the Director.
PART VI
REVOCATION AND EXPIRATION OF THE GRANT, AND Winding Up OF COMPANY
51. (1) If in the opinion of the Governor in Council--
(a) the Company has failed, or appears to be likely to fail, to complete the tunnel structure by the date required by section 28(1), or to provide or operate the tunnel facilities, or to maintain the tunnel structure as required by this Ordinance; or
(b) there has been a substantial failure of the Company to comply with any of the provisions of this Ordinance or of the Cross-Harbour Tunnel (Passage Tax) Ordinance.
the Governor in Council may direct the Commissioner to serve on the Company a notice specifying the grounds for any such opinion and requiring the Company to show cause in writing to the Gover- nor in Council, within 28 days after the date of such service, why the grant should not be revoked. (Amended, 28 of 1984, s. 10)
(2) If the Company fails, within 28 days after such service, to show sufficient cause why the grant should not be revoked, or if the Governor in Council, after considering any representations made by the Company, or by any other person having a financial interest in the Company, is of the opinion that the Company, or such other person, has not shown sufficient cause why the grant should not be revoked, the Governor in Council may by order revoke the grant and such revocation shall take effect from the date specified in the order.
(3) An order made under subsection (2) shall be served on the Company and, as soon as is practicable thereafter, shall be published in the Gazette.
52. All rights and obligations of the Company under this Ordinance shall determine and the assets of the Company shall vest in the Government-
(a) subject to section 53, on-
(i) the commencement of any voluntary winding up of the Company, otherwise than for the purposes of an assignment in accordance with section 5;
(ii) the making of a winding up order in respect of the Company;
(iii) the revocation of the grant under section 51;
Revocation of the grant.
(Cap. 274.)
Effect of winding
up of Company or cessation of grant.
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