||Title:||PUBLIC BUS SERVICES ORDINANCE||Gazette Number:|
|Section:||25E||Heading:||Provisional payment pending determination of compensation||Version Date:||30/06/1997|
(1) Where any offer of compensation made by the Government to any person under this Part in respect of any claim is not accepted, the Government may, pending the determination by the arbitrator of the compensation, if any, payable in respect of such claim under this Part, pay-
(2) Any payment made by the Government under subsection (1) in respect of any claim shall be without prejudice to the claim or the submission of the claim to, or its determination by, the arbitrator under this Part; but the amount of compensation payable by virtue of such determination in respect of such claim shall be reduced by the amount of such payment.
(a) an amount as a provisional payment of the amount payable by virtue of such determination; and
(b) interest on any payment made under paragraph (a), for the period from the date on which the amount becomes payable until the date on which the payment is made, calculated at a rate equal to the 7 day deposit rate plus 2%, where "7 day deposit rate" (7天通知存款利率) means the highest rate of interest (expressed as a percentage) paid from time to time by the continuing members of the Committee of The Hong Kong Association of Banks on deposits of that amount fixed for 7 days.
(3) Where the amount of compensation payable by virtue of a determination of the arbitrator under this Part is reduced under subsection (2) by the amount of any payment made under subsection (1), such compensation shall not as from the date on which the payment is made bear interest except on the amount of the compensation as so reduced.
(4) Where the amount of any payment made by the Government under subsection (1) in respect of any claim exceeds the amount of the compensation determined by the arbitrator in respect of such claim, the amount of the excess shall be recoverable by the Government as a civil debt.
(Added 82 of 1995 s. 6)___________________________________________________________________
1. The application of this section is affected by section 7 of the Public Bus Services (Amendment) Ordinance 1995 (82 of 1995), which section is reproduced as follows-
This Ordinance applies to franchises granted before the commencement of this Ordinance as it applies to franchises granted after such commencement.".
2. 82 of 1995 commenced operation on 4 August 1995.