1964_EASTERN_HARBOUR_CROSSING_ORDINANCE — Page 12

HK Historical Laws 香港歷史法例 All AI Reviewed

1986 Ed.]

Eastern Harbour Crossing

[CAP. 215

10. (1) Nothing in section 9 shall prevent either the Road Company or the Rail Company from securing the payment or repayment of any moneys owing by it under any agreement or arrangement entered into for the purpose of providing moneys to finance-

(a) the designing and carrying out of the construction works;

(b) the undertaking of any obligation imposed on that company by this Ordinance, the project agreement or the operating agreement; or

by means of any assignment by way of mortgage or other charge or similar arrangement of the rights granted to it under Part II:

Provided that no such mortgage or charge in so far as it relates to such rights, shall be enforced, whether by order of any court or otherwise, except with the consent of the Governor in Council and in accordance with the terms of his consent.

(2) Nothing in section 9 or subsection (1) shall apply to any mortgage, charge, assignment or other arrangement entered into----

(a) by the Road Company, which secures any debt or obligation of that company, upon the right to receive the tolls under Part IX; or

(b) by the Rail Company, which secures any debt or obligation of that company, upon the right to receive any payments under the operating agreement.

(3) Where the enforcement of any mortgage or charge to which subsection (1) applies has the effect of transferring the franchise granted by section 4(1) or 5(1) from a person who was the Road Company or, as the case may be, the Rail Company, immediately prior to the transfer to any other person who thereby becomes the Road Company or, as the case may be, the Rail Company, the Secretary shall give notice thereof in the Gazette.

(4) A notice under subsection (3) shall specify the name of such other person, the nature of the right transferred and the date of the transfer.

Mortgages and charges.

PART IV

PROVISIONS RELATING TO THE ROAD COMPANY AND THE RAIL COMPANY

11. (1) A majority of the directors of the Road Company shall be persons who are ordinarily resident in Hong Kong.

Directors of the Road Company.

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1986 Ed.] Eastern Harbour Crossing [CAP. 215 10. (1) Nothing in section 9 shall prevent either the Road Company or the Rail Company from securing the payment or repayment of any moneys owing by it under any agreement or arrangement entered into for the purpose of providing moneys to finance- (a) the designing and carrying out of the construction works; (b) the undertaking of any obligation imposed on that company by this Ordinance, the project agreement or the operating agreement; or (c) such other purposes as the Financial Secretary may, by prior notice in writing to the company concerned, permit, by means of any assignment by way of mortgage or other charge or similar arrangement of the rights granted to it under Part II: Provided that no such mortgage or charge in so far as it relates to such rights, shall be enforced, whether by order of any court or otherwise, except with the consent of the Governor in Council and in accordance with the terms of his consent. (2) Nothing in section 9 or subsection (1) shall apply to any mortgage, charge, assignment or other arrangement entered into---- (a) by the Road Company, which secures any debt or obligation of that company, upon the right to receive the tolls under Part IX; or (b) by the Rail Company, which secures any debt or obligation of that company, upon the right to receive any payments under the operating agreement. (3) Where the enforcement of any mortgage or charge to which subsection (1) applies has the effect of transferring the franchise granted by section 4(1) or 5(1) from a person who was the Road Company or, as the case may be, the Rail Company, immediately prior to the transfer to any other person who thereby becomes the Road Company or, as the case may be, the Rail Company, the Secretary shall give notice thereof in the Gazette. (4) A notice under subsection (3) shall specify the name of such other person, the nature of the right transferred and the date of the transfer. Mortgages and charges. PART IV PROVISIONS RELATING TO THE ROAD COMPANY AND THE RAIL COMPANY 11. (1) A majority of the directors of the Road Company shall be persons who are ordinarily resident in Hong Kong. Directors of the Road Company. 11 1

Baseline (Original)

1986 Ed.] Eastern Harbour Crossing [CAP. 215 10. (1) Nothing in section 9 shall prevent either the Road Company or the Rail Company from securing the payment or repayment of any moneys owing by it under any agreement or arrangement entered into for the purpose of providing moneys to finance- (a) the designing and carrying out of the construction works; (b) the undertaking of any obligation imposed on that com- pany by this Ordinance, the project agreement or the operating agreement; or (c) such other purposes as the Financial Secretary may, by prior notice in writing to the company concerned, permit, by means of any assignment by way of mortgage or other charge or similar arrangement of the rights granted to it under Part II: Provided that no such mortgage or charge in so far as it relates to such rights, shall be enforced, whether by order of any court or otherwise, except with the consent of the Governor in Council and in accordance with the terms of his consent. (2) Nothing in section 9 or subsection (1) shall apply to any mortgage, charge, assignment or other arrangement entered into---- (a) by the Road Company, which secures any debt or obliga- tion of that company, upon the right to receive the tolls under Part IX; or (b) by the Rail Company, which secures any debt or obliga- tion of that company, upon the right to receive any payments under the operating agreement. (3) Where the enforcement of any mortgage or charge to which subsection (1) applies has the effect of transferring the franchise granted by section 4(1) or 5(1) from a person who was the Road Company or, as the case may be, the Rail Company, imme- diately prior to the transfer to any other person who thereby becomes the Road Company or, as the case may be, the Rail Company, the Secretary shall give notice thereof in the Gazette. (4) A notice under subsection (3) shall specify the name of such other person, the nature of the right transferred and the date of the transfer. Mortgages and charges. PART IV PROVISIONS RELATING TO THE ROAD COMPANY AND THE RAIL COMPANY 11. (1) A majority of the directors of the Road Company shall be persons who are ordinarily resident in Hong Kong. Directors of the Road Company. 11 1

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1986 Ed.]

Eastern Harbour Crossing

[CAP. 215

(a) the designing and carrying out of the construction works;

(b) the undertaking of any obligation imposed on that com- pany by this Ordinance, the project agreement or the operating agreement; or

prior notice in writing to the company concerned, permit,

by means of any assignment by way of mortgage or other charge or similar arrangement of the rights granted to it under Part II:

(2) Nothing in section 9 or subsection (1) shall apply to any mortgage, charge, assignment or other arrangement entered into----

(a) by the Road Company, which secures any debt or obliga- tion of that company, upon the right to receive the tolls under Part IX; or

(b) by the Rail Company, which secures any debt or obliga- tion of that company, upon the right to receive any payments under the operating agreement.

(3) Where the enforcement of any mortgage or charge to which subsection (1) applies has the effect of transferring the franchise granted by section 4(1) or 5(1) from a person who was the Road Company or, as the case may be, the Rail Company, imme- diately prior to the transfer to any other person who thereby becomes the Road Company or, as the case may be, the Rail Company, the Secretary shall give notice thereof in the Gazette.