Hong Kong Ordinances

WESTERN HARBOUR CROSSING ORDINANCE - SECT 49

Payments from the Fund

(1) The Committee may in respect of any year ending immediately before-

   (a)  a specified date; or

        (b)	a date to which a toll increase is deferred ("deferred date") 
or further deferred ("further deferred date") under section 47, pay to the
Company from the Fund an amount equal to the difference between the
net revenue and the upper estimated net revenue for the year concerned.

(2) A payment, if any, under-

   (a)  subsection (1)(a) shall be made not later than the relevant
        specified date; and

   (b)  subsection (1)(b) shall be made not later than the deferred  date or
        further deferred date as the case may be, or such later date as may be
        appropriate having regard to the terms of the project agreement.

(3) Where a payment is made under subsection (1), the Company shall not give
effect to the toll increase which it could have otherwise given effect to and
the toll increase shall be deferred to 1 January next following the date on
which it could have been given effect to if not for this subsection.

(4) Where a toll increase is deferred under subsection (3) or (5) and the
net revenue of the Company for the year ending immediately before the date to
which it is deferred is-

   (a)  less than the upper estimated net revenue for that year, the Company
        may give effect to a toll increase; or

   (b)  equal to or exceeds the upper estimated net revenue for that year, the
        toll increase shall be deferred to 1 January next following the date
        on which it could have been given effect to if not for this paragraph.

(5) Where the Company may give effect to a toll increase under subsection
(4)(a) in respect of any year, the Committee may pay to the Company the
difference between the net revenue and the upper estimated net  revenue for
that year and the toll increase which it could have given effect to if not for
this subsection shall be deferred to 1 January next following.

(6) The Committee may, in respect of any year-

   (a)  which is not a year ending immediately before-

        (i)    a specified date; or

        (ii)   a date on which a toll increase deferred or further deferred
               under section 47 or this section may be given effect to; and

   (b)  in which the net revenue of the Company is less than the
        minimum estimated net revenue, pay to the Company from the Fund, an
        amount equal to the difference between the net revenue and the
        minimum estimated net revenue for that year.

(7) Where a payment is made under subsection (6), the Company shall not, in
respect of that year, advance a toll increase or where applicable give effect
to an additional toll increase under section 48.

(8) Any payment under subsection (6) shall be made not later than the date on
which the toll increase could have been given effect to if not for that
subsection or such later date as may be appropriate having regard to the
project agreement.

(9) Where the Company wishes to give effect to a toll increase to which it may
give effect to under section 47 or subsection (4)(a), it shall apply in
writing to the Secretary to increase the tolls by the amount of the
appropriate toll increase.

(10) Section 45(3), (4) and (5) shall apply in relation to an application
under subsection (9). (Enacted 1993)