Hong Kong Ordinances

MASS TRANSIT RAILWAY ORDINANCE - SECT 52C

Re-vesting of certain contractual rights and liabilities in KCRC

(1) Where a contract or a class of contracts which has been specified in a
Vesting Notice is specified in a Re-vesting Notice-

   (a)  the rights which are exercisable by the Corporation at any time on or
        after the relevant date under the terms of the contract or a contract
        of the class of contracts; and

   (b)  the liabilities which are to be discharged by the Corporation at any
        time on or after the relevant date under the terms of the contract or
        a contract of the class of contracts, shall vest in KCRC by virtue of
        this subsection on that date.

(2) Where a right is exercisable by the Corporation before, on and after the
relevant date under the terms of a contract or a contract of a class of
contracts specified in a Re-vesting Notice, subsection (1) does not apply to
the right which is exercisable by the Corporation in respect of the period
before the relevant date.

(3) The Secretary may make a Re-vesting Notice for the purposes of subsection
(1) where-

   (a)  the franchise is revoked under section 18;

   (b)  that part of the franchise relating to the KCRC Railways is revoked
        under section 18;

   (c)  the franchise has expired and has not been extended under section 5;
        or

   (d)  both KCRC and the Corporation agree that it is necessary to make a
        Re-vesting Notice.

(4) A Re-vesting Notice made under subsection (3) shall be published in the
Gazette as a general notice. (Part IXA added 11 of 2007 s. 20)