1964_CROSS-HARBOUR_TUNNEL_ORDINANCE — Page 7

HK Historical Laws 香港歷史法例 All AI Reviewed

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CAP. 203]

Cross-Harbour Tunnel

[1984 Ed.

Restriction on disposition by Company.

Directors of the Company.

(Cap. 32.)

Shares of the Company on the operating date.

Shares to be listed and quoted on Stock Exchange.

Grant of wayleave and rent therefor.

(2) Such grant shall be subject to this Ordinance and to such agreements not in conflict therewith as may be concluded between the Government and the Company.

(3) Subject to this Ordinance, the grant shall continue until 30 years after the start of construction.

5. (1) The Company shall not, otherwise than by way of charge or mortgage for the purpose of financing the construction works, assign, charge, mortgage, sub-grant, underlet or otherwise dispose of its rights or obligations under this Ordinance or any part of such rights or obligations without the prior consent of the Governor in Council.

(2) The Governor in Council, when considering whether or not to grant such consent, shall take into account all the existing rights and obligations of the Company and may, if he grants such consent, impose such conditions, not inconsistent with this Ordinance, as he may consider necessary.

6. (1) A majority of the directors of the Company shall be Commonwealth citizens. (Amended, 80 of 1982, s. 2)

(2) If at any time the Government holds 10 per cent or more of the issued and fully paid up share capital of the Company, the Governor shall have power, notwithstanding any provision of the Companies Ordinance or any other law or instrument, to appoint 2 directors of the Board of the Company, or such greater number of directors as bears the same proportion (omitting any fraction) to the number of directors on the Board as the amount of such capital held by the Government bears to the total issued and fully paid up share capital of the Company.

7. On the operating date, the issued and fully paid up share capital of the Company shall amount to not less than 80 million dollars in addition to any holding of such capital by the Government.

8. The Company shall ensure that the shares of the Company are listed and quoted on the Hong Kong Stock Exchange within 2 years of the operating date or such later date as may be allowed by the Governor in Council.

Rights over land and payments due by the Company

9. (1) Subject to this Ordinance, the Government grants to the Company, from the start of construction and thereafter during the continuance of the grant, a wayleave through the tunnel area.

(2) The Company shall pay in advance to the Government an annual rent of $75,000 in respect of the wayleave, commencing from the start of construction.

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6 CAP. 203] Cross-Harbour Tunnel [1984 Ed. Restriction on disposition by Company. Directors of the Company. (Cap. 32.) Shares of the Company on the operating date. Shares to be listed and quoted on Stock Exchange. Grant of wayleave and rent therefor. (2) Such grant shall be subject to this Ordinance and to such agreements not in conflict therewith as may be concluded between the Government and the Company. (3) Subject to this Ordinance, the grant shall continue until 30 years after the start of construction. 5. (1) The Company shall not, otherwise than by way of charge or mortgage for the purpose of financing the construction works, assign, charge, mortgage, sub-grant, underlet or otherwise dispose of its rights or obligations under this Ordinance or any part of such rights or obligations without the prior consent of the Governor in Council. (2) The Governor in Council, when considering whether or not to grant such consent, shall take into account all the existing rights and obligations of the Company and may, if he grants such consent, impose such conditions, not inconsistent with this Ordinance, as he may consider necessary. 6. (1) A majority of the directors of the Company shall be Commonwealth citizens. (Amended, 80 of 1982, s. 2) (2) If at any time the Government holds 10 per cent or more of the issued and fully paid up share capital of the Company, the Governor shall have power, notwithstanding any provision of the Companies Ordinance or any other law or instrument, to appoint 2 directors of the Board of the Company, or such greater number of directors as bears the same proportion (omitting any fraction) to the number of directors on the Board as the amount of such capital held by the Government bears to the total issued and fully paid up share capital of the Company. 7. On the operating date, the issued and fully paid up share capital of the Company shall amount to not less than 80 million dollars in addition to any holding of such capital by the Government. 8. The Company shall ensure that the shares of the Company are listed and quoted on the Hong Kong Stock Exchange within 2 years of the operating date or such later date as may be allowed by the Governor in Council. Rights over land and payments due by the Company 9. (1) Subject to this Ordinance, the Government grants to the Company, from the start of construction and thereafter during the continuance of the grant, a wayleave through the tunnel area. (2) The Company shall pay in advance to the Government an annual rent of $75,000 in respect of the wayleave, commencing from the start of construction.

Baseline (Original)

6 CAP. 203] Cross-Harbour Tunnel [1984 Ed. Restriction on disposition by Company. Directors of the Company. (Cap. 32.) Shares of the Company on the operating date. Shares to be listed and quoted on Stock Exchange. Grant of wayleave and rent therefor. (2) Such grant shall be subject to this Ordinance and to such agreements not in conflict therewith as may be concluded between the Government and the Company. (3) Subject to this Ordinance, the grant shall continue until 30 years after the start of construction. 5. (1) The Company shall not, otherwise than by way of charge or mortgage for the purpose of financing the construction works, assign, charge, mortgage, sub-grant, underlet or otherwise dispose of its rights or obligations under this Ordinance or any part of such rights or obligations without the prior consent of the Governor in Council. (2) The Governor in Council, when considering whether or not to grant such consent, shall take into account all the existing rights and obligations of the Company and may, if he grants such consent, impose such conditions, not inconsistent with this Ordin- ance, as he may consider necessary. 6. (1) A majority of the directors of the Company shall be Commonwealth citizens. (Amended, 80 of 1982, s. 2) (2) If at any time the Government holds 10 per cent or more of the issued and fully paid up share capital of the Company, the Governor shall have power, notwithstanding any provision of the Companies Ordinance or any other law or instrument, to appoint 2 directors of the Board of the Company, or such greater number of directors as bears the same proportion (omitting any fraction) to the number of directors on the Board as the amount of such capital held by the Government bears to the total issued and fully paid up share capital of the Company. 7. On the operating date, the issued and fully paid up share capital of the Company shall amount to not less than 80 million dollars in addition to any holding of such capital by the Government. 8. The Company shall ensure that the shares of the Company are listed and quoted on the Hong Kong Stock Exchange within 2 years of the operating date or such later date as may be allowed by the Governor in Council. Rights over land and payments due by the Company 9. (1) Subject to this Ordinance, the Government grants to the Company, from the start of construction and thereafter during the continuance of the grant, a wayleave through the tunnel area. (2) The Company shall pay in advance to the Government an annual rent of $75,000 in respect of the wayleave, commencing from the start of construction.

2026-05-04 12:44:13 · Baseline

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