|104||Title:||FERRY SERVICES ORDINANCE||Gazette Number:||62 of 1999|
|Section:||37||Heading:||Profit Control Scheme||Version Date:||01/07/1997|
Adaptation amendments retroactively made - see 62 of 1999 s. 3
(1) The Financial Secretary and the grantee may, with the approval of the Chief Executive in Council, enter into an agreement to control the level and distribution of profits arising from the operations of the grantee under the franchise, any agreement entered into in pursuance of this Ordinance and any other operations of the grantee specified in the agreement. (Amended 62 of 1999 s. 3)
(2) An agreement entered into under subsection (1) may specify circumstances under which the right to control the level and distribution of profits may be exercised.
(3) The operations of the grantee which may be specified in an agreement entered into under this section may include any operation of the grantee and shall not be limited to operations conducted under or in pursuance of this Ordinance or the franchise.
(4) The terms of any agreement entered into under this section shall be reviewed every 3 years by the Financial Secretary and the grantee.
(5) Any amendment agreed to by the Financial Secretary and the grantee shall be subject to the approval of the Chief Executive in Council. (Amended 62 of 1999 s. 3)
(6) The Financial Secretary may at any reasonable time, inspect any record or account kept by the grantee in connection with its franchise or any operations specified in an agreement entered into under this section and the Financial Secretary may make and take away copies of any such record or account.
(7) The grantee shall supply upon the written request of the Financial Secretary any relevant financial information regarding the operations under the franchise.