1964_EASTERN_HARBOUR_CROSSING_ORDINANCE — Page 39

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CAP. 215]

Eastern Harbour Crossing

[1986 Ed.

(3) Any person upon whom a notice is served under subsection (2) and any other person who is a shareholder of the company in default or a financier within the meaning of section 68 may, within the period specified in subsection (2), or such further period as the Governor in Council may allow, make representations to the Governor in Council, to show cause why the Governor in Council should not exercise his powers under subsection (4).

(4) After considering any representations made under subsection (3) and if the Governor in Council is of the opinion that insufficient cause has been shown why the Governor in Council should not exercise his powers under this section, the Governor in Council may by order-

(a) where it appears to the Governor in Council that a notice should have been served under section 68 and was not, or the terms of any notice served were unreasonable, direct the Secretary to serve a notice or, as the case may be, a further notice, under that section in such terms as the Governor in Council may determine unless it appears to the Governor in Council that the default is no longer capable of being remedied; or

(b) in any other case-

(i) in the case of a default taking place prior to the discharge date, revoke the franchises granted by Part II;

(ii) in the case of a default taking place on or after the discharge date-

(A) in the case of a default by the Road Company, revoke the franchise granted by section 4(1); or (B) in the case of a default by the Rail Company, revoke the franchise granted by section 5(1),

and such revocation shall take effect from the date specified in the order.

(5) Where the Governor in Council exercises his powers under subsection (4)(b) he may further order that the franchise revoked, or where the franchises of both the Road Company and the Rail Company are revoked, that the franchise of either or both of those companies, be regranted to such other person (being a person willing and able to accept such re-grant) on such terms and conditions, being terms and conditions consistent with this Ordinance, as he may think fit, and upon the publication of that order in the Gazette such franchises or franchise shall vest in such other person and the provisions of this Ordinance shall apply to such person as being the Road Company or, as the case may be, Rail Company.

(6) An order made under-

(a) subsection (4)(a) shall be directed to the Secretary and a copy thereof shall be attached to the Secretary's notice under section 68(2);