Hong Kong Ordinances

WESTERN HARBOUR CROSSING ORDINANCE - SECT 45

Giving effect to anticipated toll increases

(1) The Company may, during the franchise period and in accordance with this
section and the project agreement, depending on its net revenue in a
particular year, and subject to this Part, give effect to a toll increase on
each specified date.

(2) Where in respect of a year ending immediately before a specified date, the
net revenue of the Company is less than the upper  estimated net revenue, the
Company may apply in writing to the Secretary to increase the tolls by the
amount of the appropriate anticipated toll  increase.

(3) Any application under subsection (2) shall be made at the same time the
statement of net revenue in respect of the relevant year is submitted under
section 43(1).

(4) Where an application is made under this section the Secretary shall,
subject to subsection (5), inform the Company, not later than 21 days before
the day on which a toll increase, if given effect to, may take place either-

   (a)  that it may give effect to the appropriate toll increase; or

   (b)  that a payment shall be made under section 49 to the Company from the
        Fund.

(5) Where the Secretary is not satisfied with the statement of net  revenue
submitted in respect of a year as regards which an application under this
section is made-

   (a)  if the amount of the net revenue in dispute does not affect the
        eligibility of the Company to give effect to a toll increase under
        this Part, subsection (4) shall apply; and

   (b)  in any other case, if pursuant to negotiation or reference to an
        independent expert as described in section 43(5), it is agreed that
        the net revenue is such or the decision of the expert as regards the
        net  revenue is such, as to render the Company eligible for a toll
        increase under this Part, the Secretary shall inform the Company not
        later than 21 days before the date on which the toll increase may be
        given effect to, that the Company may give effect to a toll increase
        or that a payment shall be made under section 49 to the Company from
        the Fund.

(6) For the purposes of subsection (5)(b), the date on which a toll increase
may be given effect to is the date on which under the terms of the
project agreement, a toll increase, if any, may be given effect to after-

   (a)  an agreement is reached as regards a statement of net revenue by
        negotiation between the Secretary and the Company; or

   (b)  a determination is made by an expert as regards such a statement, as
        may be appropriate. (Enacted 1993)