6
CAP. 104]
Ferry Services
[1982 Ed.
Periods of franchise and extensions thereof.
Restriction on transfer of Franchise.
Directors of
grantee companies.
Governor may appoint additional directors.
(Cap. 32.)
7. (1) A franchise may be granted for an initial period not exceeding 15 years, and in calculating a franchise period no account shall be taken of any change made from time to time in the franchised services operated under the franchise.
(2) The Governor in Council may, at the request in writing of a grantee, if he is satisfied that the grantee is capable of maintaining a proper and efficient ferry service and it is in the public interest to continue the franchised service or services, extend the franchise for a period or periods not exceeding 15 years beginning on the date on which the extension is granted.
(3) A request under subsection (2) may be made-
(a) not more than once in each 5 year period during the franchise period, the first of such periods to be treated as commencing on the date of the granting of the franchise, and subsequent periods as commencing on the fifth anniversary of the date of commencement of the prior period; and
(b) in any case not less than 2 years before the expiration of the franchise period.
8. A grantee shall not transfer its franchise, or any part thereof, without the approval of the Governor in Council.
9. It shall be a condition of the franchise that, unless the Governor in Council otherwise permits, a majority of the directors of a grantee shall be Commonwealth citizens ordinarily resident in Hong Kong and shall participate actively as directors in the management of the grantee.
10. (1) The Governor may, notwithstanding any provision of the Companies Ordinance or any other law or of any document, appoint, for such period as he may direct, not more than 2 persons to be additional directors of a grantee; and, notwithstanding any such provision as aforesaid, a person so appointed may not be removed from office as additional director of a grantee except by the Governor.
(2) A person so appointed to be an additional director of a grantee shall primarily represent the interests of the Government and for that purpose shall be entitled to participate at meetings of the grantee and the board of directors of the grantee, to have access to all material concerning the affairs of the grantee which is available to any other director and require such information with respect to the grantee's affairs as he may specify to be furnished to him; and, without prejudice to the foregoing but subject to subsection (3), any such person shall be treated for all purposes as if he had been appointed at a general meeting of the grantee as a director thereof.
(3) No fee or reward, financial or otherwise, shall be paid by a grantee to a person appointed to be an additional director of the
6
CAP. 104]
Ferry Services
[1982 Ed.
Periods of franchise and extensions thereof.
Restriction on transfer of Franchise.
Directors of
grantee companies.
Governor may appoint additional directors.
(Cap. 32.)
7. (1) A franchise may be granted for an initial period not exceeding 15 years, and in calculating a franchise period no account shall be taken of any change made from time to time in the franchised services operated under the franchise.
(2) The Governor in Council may, at the request in writing of a grantee, if he is satisfied that the grantee is capable of maintaining a proper and efficient ferry service and it is in the public interest to continue the franchised service or services, extend the franchise for a period or periods not exceeding 15 years beginning on the date on which the extension is granted.
(3) A request under subsection (2) may be made-
(a) not more than once in each 5 year period during the franchise period, the first of such periods to be treated as commencing on the date of the granting of the franchise. and subsequent periods as commencing on the fifth anni- versary of the date of commencement of the prior period; and
(b) in any case not less than 2 years before the expiration of the
franchise period.
8. A grantee shall not transfer its franchise, or any part thereof, without the approval of the Governor in Council.
9. It shall be a condition of the franchise that. unless the Governor in Council otherwise permits, a majority of the directors of a grantee shall be Commonwealth citizens ordinarily resident in Hong Kong and shall participate actively as directors in the man- agement of the grantee.
10. (1) The Governor may, notwithstanding any provision of the Companies Ordinance or any other law or of any document. appoint, for such period as he may direct, not more than 2 persons to be additional directors of a grantee; and, notwithstanding any such provision as aforesaid, a person so appointed may not be removed from office as additional director of a grantee except by the Governor.
(2) A person so appointed to be an additional director of a grantee shall primarily represent the interests of the Government and for that purpose shall be entitled to participate at meetings of the grantee and the board of directors of the grantee, to have access to all material concerning the affairs of the grantee which is available to any other director and require such information with respect to the grantee's affairs as he may specify to be furnished to him; and, without prejudice to the foregoing but subject to subsec- tion (3), any such person shall be treated for all purposes as if he had been appointed at a general meeting of the grantee as a director thereof.
(3) No fee or reward. financial or otherwise, shall be paid by a grantee to a person appointed to be an additional director of the
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