1964_EASTERN_HARBOUR_CROSSING_ORDINANCE — Page 41

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Liability of companies and amount payable by the

Government on the vesting in it

of their assets.

(Cap. 341)

CAP. 215]

Eastern Harbour Crossing

[1986 Ed.

71. (1) On the determination of the rights and obligations of both the Road Company and the Rail Company under section 70(1), the Road Company shall thereupon be liable, in addition to the payment of all other sums due to the Government, to pay--

(a) all sums payable under section 20 notwithstanding that payment of such sums would, but for this paragraph, be suspended under section 20(2)(a); and

(b) any expenses which may be incurred by the Government--

(i) in putting the sea-bed, any land and any uncompleted construction works in a satisfactory order to enable the construction works either to be maintained in a state in which they can be continued at a future time or abandoned as the Director may determine, including any costs of land or sea-bed restoration; and

(ii) in putting the construction works in a safe condition.

(2) On the determination of the rights and obligations of-

(a) the Road Company and the Rail Company under section 70(1);

(b) the Road Company under section 70(2); or

(c) the Rail Company under section 70(3),

the Government shall be liable to pay to the company whose rights and obligations have been determined in respect of the assets of that company vesting in the Government under section 70(4) such amount as may be agreed between the Government and the Road Company or, as the case may be, the Rail Company, as representing the value of such assets to the Government at the time of vesting or, in default of such agreement, such amount as may be determined by arbitration under the Arbitration Ordinance.

(3) In determining the value for the purposes of subsection (2)-

(a) of assets forming part of the railway works, the value of the assets to the Government shall be deemed to be the value they would have had to the Mass Transit Railway Corporation, if these assets had, under section 70(4), vested in the Corporation;

(b) where the vesting of the assets in the Government is in consequence of a default, there shall be deducted from what would, but for this paragraph, be the value of the assets, such amount as may be agreed or determined in accordance with the provisions of that subsection for-

(i) damages occasioned to the Government by such default calculated on the basis that the construction works had been, or are to be, constructed, for the beneficial use of the Government and that the Government is the franchise holder under Part II;