18
CAP. 230]
Interpretation.
(30 of 1986.) [*6.6.86.]
Public Bus Services
[1986 Ed.
(3) Where possession is taken under subsection (1) of any of the property of a company, the company shall, notwithstanding section 24(5), be entitled to compensation for the use by the Government, or its nominee, of any of the property of which possession has been taken.
PART V
PROFIT CONTROL SCHEME
26. In this Part, unless the context otherwise requires—
"accounting year" means the accounting year adopted by a grantee for drawing up its annual profit and loss accounts and balance sheet;
"average net fixed assets" for any accounting year means the average of the opening and closing balances for that accounting year, as shown by the records of a grantee, of its net fixed assets; "Development Fund" means the Development Fund referred to in
section 27(1);
"fixed assets" means the stocks of capital items of stores and spares, investments in land, buildings, buses and other motor vehicles, plant, machinery and equipment, furniture, fixtures and fittings and other fixed assets (including assets in the course of construction, goods in transit and payments on account) used or kept by a grantee for the purposes of or in connexion with its franchise; "net fixed assets" means the fixed assets of a grantee after any
depreciation under section 30;
"operating costs" means-
(a) the total operating costs incurred by a grantee in connexion with its franchise;
(b) any realized and unrealized currency exchange losses arising after the date of commencement* of the Public Bus Services (Amendment) Ordinance 1986 from transactions in connexion with the franchise of a grantee; and
(c) depreciation effected in accordance with section 30;
(Added, 30 of 1986, s. 2)
"operating profit" of a grantee means the difference between its operating receipts and its operating costs, to which difference is added the interest (referred to in section 29(1)(b)) on all borrowed capital of the grantee; (Added, 30 of 1986, s. 2) "operating receipts" means-
(a) the total gross sums received by a grantee by way of-
(i) the fares charged by the grantee for the carriage of passengers, baggage and goods on public buses;
(ii) any charges imposed or other benefits obtained by the grantee under this Ordinance or its franchise; (Amended, 30 of 1986, s. 2)
18
CAP. 230]
Interpretation.
(30 of 1986.) [*6.6.86.]
Public Bus Services
[1986 Ed.
(3) Where possession is taken under subsection (1) of any of the property of a company, the company shall, notwithstanding section 24(5), be entitled to compensation for the use by the Government, or its nominee, of any of the property of which possession has been taken.
PART V
PROFIT CONTROL SCHEME
26. In this Part, unless the context otherwise requires—
"accounting year" means the accounting year adopted by a grantee for drawing up its annual profit and loss accounts and balance sheet;
"average net fixed assets" for any accounting year means the average of the opening and closing balances for that accounting year, as shown by the records of a grantee, of its net fixed assets; "Development Fund" means the Development Fund referred to in
section 27(1);
"fixed assets" means the stocks of capital items of stores and spares, investments in land, buildings, buses and other motor vehicles, plant, machinery and equipment, furniture, fixtures and fittings and other fixed assets (including assets in the course of construc- tion, goods in transit and payments on account) used or kept by a grantee for the purposes of or in connexion with its franchise; "net fixed assets" means the fixed assets of a grantee after any
depreciation under section 30;
"operating costs" means-
(a) the total operating costs incurred by a grantee in connexion
with its franchise;
(b) any realized and unrealized currency exchange losses aris- ing after the date of commencement* of the Public Bus Services (Amendment) Ordinance 1986 from transactions in connexion with the franchise of a grantee; and
(c) depreciation effected in accordance with section 30;
(Added, 30 of 1986, s. 2)
"operating profit" of a grantee means the difference between its operating receipts and its operating costs, to which difference is added the interest (referred to in section 29(1)(b)) on all borrowed capital of the grantee; (Added, 30 of 1986, s. 2) "operating receipts" means-
(a) the total gross sums received by a grantee by way of-
(i) the fares charged by the grantee for the carriage of passengers, baggage and goods on public buses;
(ii) any charges imposed or other benefits obtained by the grantee under this Ordinance or its franchise; (Amended, 30 of 1986, s. 2)
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