No. 14. 1973.


 27. The Government may, in its discretion, on being re-
quested by the Company so to do, transfer to the Company the
freehold title of any Crown land reasonably required by the
Company for the purpose of the Company's said business and
in such event the transfer shall be at a price equal to the value
of such land on the open market or at such lesser price as the
Government may in its sole discretion determine.

 28. (1) The Governor shall be entitled to revoke the licence
on the last day of the first fifteen years of the licence or, if not
revoked then pursuant to this section, on the last day of the first
forty years of the licence, provided always that no purport d
revocation of the licence under this sub-section will be effective
unless the Minister has given to the Company not l-ss than
twenty-four months' previous notice in writing of such revoca-
tion.
 (2) If pursuant to the foregoing provisions of this section
the Governor revokes the licence, the Government shall, upon the
revocation of the licence, purchase from the respective registered
holders thereof at the price and in the manner described in
section 29 all shares and debentures issued by the Company
which are then held otherwise than by or on behalf of the Gov-
ernment, any statutory corporation incorporated under the laws
of Saint Vincent or any company the entire issued ordinary
share capital of which is for the time being in the beneficial
ownership of the Government or of any such statutory corpora-
tion.


 29. (1) The Government shall pay to the respective regis-
tered holders of all debentures issued by the Company, which
the Government is obliged to purchase in accordance with the
provisions of section 28, a purchase price equal to the amount
of the principal moneys outstanding on the debentures held by
them respectively at the date of the revocation o" the licence
together with all unpaid interest-which has accrued thereunder
up to such date.
 (2) The Government shall pay to the respective regis-
tered holders of all Preference shares issued by the Company,
which the Government is obliged to purchase in accordance
with the aforesaid provisions, a purchase price equal to the
amount paid up on the preference shares held by them respec-
tively at the date of the revocation of the licence together with
the amount of any premium due on the redemption thereof


Government may
transfer Crown
land required by
Company.




Power of
Government to
revoke licence
at the end of
15 or 40 years.


Purchase price
to be paid by
Government on
revocation of
licence.


1973.


No. 14.


Electricity Ripjdti.