JAN. 25.] THE NEW ZEALAND GAZETTE. 283

charge shall not exceed £12 per horse-power per annum.
“Wholesale supply” for this purpose shall be held to be a
supply in respect to which the consumer shall guarantee to
pay not less than £75 per annum.

Provided further that, in the event of a number not less
than twenty-five per centum of the consumers at any time
representing to the Minister that the licensee is charging
for the supply of electrical energy a rate which is returning
an excessive profit, after allowing for the creation of a
reasonable reserve fund, the Minister shall have power to
cause such inquiry and investigation of the licensee’s books
and accounts as he may deem necessary; and if, after
such inquiry and investigation, he is of opinion that unreason-
ably high profits are being made, having regard to all
surrounding circumstances and conditions and to the nature
of the undertaking, the Governor-General may, on the
recommendation of the Minister, from time to time reduce
or otherwise amend the rates permitted to be charged to
consumers under this license.

12. AREA OF SUPPLY.
    The area of supply comprises the counties of Waikohu,
    Uawa, and Cook, except the area comprised in the Manga-
    papa Town District and the Borough of Gisborne, but including
    all other town districts in such counties; the said area of
    supply being indicated by a distinctive border coloured yellow
    on the plan marked P.W.D. 46338, deposited in the office of
    the Minister at Wellington, in the Provincial District of
    Wellington.

13. SYSTEM OF SUPPLY.
    The system of supply shall be as described in paragraph (e)
    of clause 3 of the regulations.
    The generating voltage shall be approximately 11,000
    volts between the terminals.

14. DATUM TEMPERATURE.
    For the purposes of calculating stresses as provided in
    clause 15 of the regulations, the datum temperature shall be
    taken as 22 degrees Fahrenheit.

15. EXPIRY OF LICENSE.—CROWN MAY TAKE OVER WORKS
    OR ALLOW LICENSEE TO REMOVE BUILDINGS, ETC.
    Upon the expiration of the term of the license hereby
    granted, the following provisions shall apply:—
    (a.) His Majesty the King may take over and use the
    whole of the works hereby authorized, including all structures,
    buildings, equipment, machinery, plant, and land, herein-
    after in this clause called the “works,” on payment by him
    to the licensee of the then value of the works. The price to be
    paid under this clause shall be fixed in the same manner as
    the price in clause 16 of this license; or
    (b.) The Governor-General may, at his option, by Order
    in Council, grant to the licensee a new license for a further
    period of forty-two years, subject to such terms, conditions,
    and payment of rental as may then be imposed by him; or
    (c.) If His Majesty the King does not elect to take over
    the works under subclause (a), or the Governor-General
    declines to issue a further Order in Council under subclause (b)
    hereof, the licensee may, within such time and subject to
    such conditions as the Minister may then impose, remove
    all structures, buildings, equipment, machinery, and plant
    erected or installed by the licensee under the powers con-
    ferred by this license. If the licensee fails or neglects to
    effect such removal within the time or subject to the con-
    ditions imposed by the Minister, such structures, buildings,
    equipment, machinery, and plant shall, without payment of
    any compensation, vest in and become the property of His
    Majesty the King.

16. CROWN’S PRIOR RIGHT TO PURCHASE WORKS.
    Notwithstanding anything hereinafter contained, the right
    is hereby reserved to His Majesty the King to purchase,
    at his option, at such price and on such conditions as may
    be mutually agreed upon (or, failing such mutual agreement,
    then by arbitration in the manner prescribed by the Arbi-
    tration Act, 1908), this license, together with the whole or any
    part of the business and undertaking of the licensee, so far as
    the same relates to or is connected with the exercise of this
    license, and together with all real and personal property and
    all rights acquired by the licensee under this license and used
    or enjoyed in connection therewith. The said right may
    be exercised by His Majesty the King at any time during
    the currency of this license, but the said price shall not
    exceed the original cost of the works (including reasonable
    preliminary and engineering expenses), less a deduction for
    depreciation at the rate of 2 per cent. per annum on the
    original cost on all assets other than land calculated for the
    period that such assets have been in service, and also a deduc-
    tion in consequence of any burdensome provisions respecting
    the use of the electric works or any easements, rights, or
    privileges in connection therewith, and shall not include
    any sum in respect of the value of the goodwill of the licensee’s
    business or undertaking, or in respect of the value of the
    license for the unexpired period thereof, or in respect of the
    value of any Crown land held or occupied by the licensee in
    connection with the undertaking. In addition to the sum
    to be paid to the licensee under this clause, there shall
    also be paid by His Majesty the King interest at the rate
    of £5 per cent. per annum on the actual cost of construction
    during each of the first four years respectively, commencing
    from the date when the deposit of £500 referred to in clause 22
    hereof has been returned to the licensee. On the completion
    of the purchase His Majesty the King shall be deemed to be
    the assignee of this license, and all the rights vested in the
    licensee by the license shall thereupon vest in His Majesty
    the King.

17. COMPENSATION PAYABLE FOR LAND INJURIOUSLY
    AFFECTED, ETC.
    In respect of all land injuriously affected, and in respect
    of all damages done by the exercise of any of the powers
    conferred upon the licensee by this license, the licensee shall
    from time to time, as and when any such injury or damage
    accrues or happens, pay compensation in accordance with
    the provisions of the Public Works Act, 1908, in the same
    manner (subject to all necessary modifications) as if such
    licensee were a local authority and the claim was one for
    injury or damage arising out of the construction of a public
    work.

18. CROWN NOT LIABLE TO PAY COMPENSATION.
    Nothing in this license shall be held to cast upon or
    imply any liability upon His Majesty the King or upon the
    Government of New Zealand to pay compensation to any
    person, corporate body, or local authority by reason of the
    exercise by the licensee of the authority hereby granted;
    but the licensee shall be liable for any loss or damage which
    any person, corporate body, or local authority may sustain
    as the result of the exercise by the licensee of any of the
    powers granted by this license.

19. CONSUMERS ENTITLED TO SUPPLY.
    The licensee shall supply and sell to any person, com-
    pany, or corporate body within the area of supply requiring
    the same, for any purpose within that area, electricity to
    the extent to which it may be available; provided that
    such person, company, or corporate body pays the cost of
    connecting his or its premises with the transmission-line
    erected by the licensee in pursuance of this license.

20. INTERCHANGE OF SUPPLY OF ELECTRICAL ENERGY.
    (a.) In the event of the Minister establishing a hydro-
    electric power scheme outside the area of supply of a frequency
    of 50 cycles per second on the three-phase alternating-current
    system, he may require the licensee to connect that system
    with the licensee’s electrical system in such a manner that an
    interchange of electrical energy between the two systems may
    be made from time to time and when required by either the
    licensee or the Minister, up to at least one-half of the total
    capacity of the plant installed at the licensee’s power-house.
    (b.) The licensee shall erect and maintain in good order, at
    the expense of the licensee, the necessary transmission-lines
    between the licensee’s power-house and a point on the bound-
    ary of the area of supply to be determined by the Minister.
    (c.) The Minister shall erect and maintain in good order, at
    the expense of the Minister, the necessary transmission-lines
    outside the area of supply for the purpose of connecting the
    two systems at the point last mentioned in subclause (b)
    hereof.
    (d.) The licensee and the Minister respectively shall, on
    demand, and from time to time as and when required, supply
    to each other so much of the surplus electrical energy as is
    then required and is available, but not in excess of one-half
    of the capacity of the plant installed in the licensee’s power-
    house.
    (e.) The price to be paid by the licensee or the Minister
    shall not exceed the following rates:—
    Between the hours of 8 a.m. and 8 p.m. daily: ld. per
    unit.
    Between the hours of 8 p.m. and 8 a.m. daily: ½d. per
    unit.
    To be measured in each case at the point last mentioned in
    subclause (b) hereof.
    (f.) For the purpose of this clause either the licensee or
    the Minister may have the unit measured in kilovolt-ampere
    hours instead of kilowatt hours.