1964_EASTERN_HARBOUR_CROSSING_ORDINANCE — Page 11

HK Historical Laws 香港歷史法例 All AI Reviewed

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CAP. 215]

Eastern Harbour Crossing

[1986 Ed.

Assignment of rail franchise.

Transfer of rail operating rights.

Prohibition on assignment etc. of franchise rights.

PART III

ASSIGNMENTS, MORTGAGES ETC.

7. (1) The New Hong Kong Tunnel Company Limited, being then the Rail Company, may, at any time before the rail operating date, assign to the Eastern Harbour Crossing Company Limited the benefit of the franchise granted to it under section 5(1):

Provided that no assignment under this section shall affect the obligations of the New Hong Kong Tunnel Company Limited under the project agreement or of the guarantors under the guarantee agreement.

(2) The New Hong Kong Tunnel Company Limited shall notify the Secretary of any assignment under this section as soon as practicable after the execution thereof.

(3) The Secretary shall, upon receiving notification under subsection (2), give notice in the Gazette of the date of an assignment under subsection (1).

8. The right to keep in place the railway works and to operate a railway transport service granted by section 5(1)(b) and (c) shall, on or before the rail operating date, be transferred by the Rail Company to the Mass Transit Railway Corporation, in accordance with the terms of the operating agreement, for the remainder of the period specified in section 5(2) which is unexpired at the time of transfer:

Provided that nothing done under this section shall affect the obligations of the Rail Company under this Ordinance.

9. (1) Subject to sections 7, 8 and 10 neither the Road Company nor the Rail Company shall assign, subgrant, underlet or otherwise dispose of its rights under this Ordinance or enter into any agreement for such disposal except with the prior consent of the Governor in Council and in accordance with the terms of his consent:

Provided that where such disposal is necessary or desirable to enable effect to be given to any arrangements entered into for the purpose of complying with any notice given under section 68 and the Governor in Council is satisfied that-

(a) the arrangements are adequate for the purpose; and

(b) the person to whom the rights are to be disposed is a person in whom such rights may properly be vested or to whom such rights may properly be transferred,

such consent shall not be withheld.

(2) The Secretary shall give notice in the Gazette of the date of any disposal authorized under subsection (1), the name of the person to whom the rights are disposed, the nature of the disposal and the date thereof.

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CAP. 215] Eastern Harbour Crossing [1986 Ed. Assignment of rail franchise. Transfer of rail operating rights. Prohibition on assignment etc. of franchise rights. PART III ASSIGNMENTS, MORTGAGES ETC. 7. (1) The New Hong Kong Tunnel Company Limited, being then the Rail Company, may, at any time before the rail operating date, assign to the Eastern Harbour Crossing Company Limited the benefit of the franchise granted to it under section 5(1): Provided that no assignment under this section shall affect the obligations of the New Hong Kong Tunnel Company Limited under the project agreement or of the guarantors under the guarantee agreement. (2) The New Hong Kong Tunnel Company Limited shall notify the Secretary of any assignment under this section as soon as practicable after the execution thereof. (3) The Secretary shall, upon receiving notification under subsection (2), give notice in the Gazette of the date of an assignment under subsection (1). 8. The right to keep in place the railway works and to operate a railway transport service granted by section 5(1)(b) and (c) shall, on or before the rail operating date, be transferred by the Rail Company to the Mass Transit Railway Corporation, in accordance with the terms of the operating agreement, for the remainder of the period specified in section 5(2) which is unexpired at the time of transfer: Provided that nothing done under this section shall affect the obligations of the Rail Company under this Ordinance. 9. (1) Subject to sections 7, 8 and 10 neither the Road Company nor the Rail Company shall assign, subgrant, underlet or otherwise dispose of its rights under this Ordinance or enter into any agreement for such disposal except with the prior consent of the Governor in Council and in accordance with the terms of his consent: Provided that where such disposal is necessary or desirable to enable effect to be given to any arrangements entered into for the purpose of complying with any notice given under section 68 and the Governor in Council is satisfied that- (a) the arrangements are adequate for the purpose; and (b) the person to whom the rights are to be disposed is a person in whom such rights may properly be vested or to whom such rights may properly be transferred, such consent shall not be withheld. (2) The Secretary shall give notice in the Gazette of the date of any disposal authorized under subsection (1), the name of the person to whom the rights are disposed, the nature of the disposal and the date thereof.

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10 CAP. 215] Eastern Harbour Crossing [1986 Ed. Assignment of rail franchise. Transfer of rail operating rights. Prohibition on assignment etc. of franchise rights. PART III ASSIGNMENTS, MORTGAGES ETC. 7. (1) The New Hong Kong Tunnel Company Limited, being then the Rail Company, may, at any time before the rail operating date, assign to the Eastern Harbour Crossing Company Limited the benefit of the franchise granted to it under section 5(1): Provided that no assignment under this section shall affect the obligations of the New Hong Kong Tunnel Company Limited under the project agreement or of the guarantors under the guarantee agreement. (2) The New Hong Kong Tunnel Company Limited shall notify the Secretary of any assignment under this section as soon as practicable after the execution thereof. (3) The Secretary shall, upon receiving notification under subsection (2), give notice in the Gazette of the date of an assignment under subsection (1). 8. The right to keep in place the railway works and to operate a railway transport service granted by section 5(1)(b) and (c) shall, on or before the rail operating date, be transferred by the Rail Company to the Mass Transit Railway Corporation, in accordance with the terms of the operating agreement, for the remainder of the period specified in section 5(2) which is unexpired at the time of transfer: Provided that nothing done under this section shall affect the obligations of the Rail Company under this Ordinance. 9. (1) Subject to sections 7, 8 and 10 neither the Road Company nor the Rail Company shall assign, subgrant, underlet or otherwise dispose of its rights under this Ordinance or enter into any agreement for such disposal except with the prior consent of the Governor in Council and in accordance with the terms of his consent: Provided that where such disposal is necessary or desirable to enable effect to be given to any arrangements entered into for the purpose of complying with any notice given under section 68 and the Governor in Council is satisfied that- (a) the arrangements are adequate for the purpose; and (b) the person to whom the rights are to be disposed is a person in whom such rights may properly be vested or to whom such rights may properly be transferred, such consent shall not be withheld. (2) The Secretary shall give notice in the Gazette of the date of any disposal authorized under subsection (1), the name of the person to whom the rights are disposed, the nature of the disposal and the date thereof.

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