Hong Kong Ordinances

WESTERN HARBOUR CROSSING ORDINANCE - SECT 43

Submission of statement of net revenue

(1) Not later than 30 days after the end of each year or such longer period as
the Secretary may, in his absolute discretion, allow in a particular case, the
Company shall submit to the Secretary a statement of its net revenue for that
year audited by an auditor appointed by the Company.

(2) Not later than-

   (a)  90 days after the end of each year; or

   (b)  60 days after the receipt of the statement of net revenue under
        subsection (1), whichever is later, the Secretary shall inform the
        Company whether or not he is satisfied with that statement of
        net revenue.

(3) The Secretary shall make a decision in respect of the statement of
net revenue for the purposes of subsection (2) in accordance with the relevant
provisions in the project agreement.

(4) The Secretary may, after the receipt of the statement of net  revenue,
require from the Company further information relating to the statement and the
Company shall comply with any such requirement as soon as practicable.

(5) If the Secretary informs the Company under subsection (2) that he is not
satisfied with the statement of net revenue and an agreement cannot be reached
by negotiation between the Secretary and the Company in accordance with the
terms of the project agreement, the matter shall be referred for resolution to
an independent expert appointed for the purpose in accordance with that
agreement, and the decision of such expert shall be final as regards any
matter relating to the statement of net revenue. (Enacted 1993)