No. 14. Electricity S.upply. 1973.


 plant, works and fixtures erected thereon or affixed there-
 to: Provided that the value of any land transferred by
 the Government free of all costs pursuant to clauses 10
 and 11 of an agreement in the form of the draft set out in
 the Schedule to the Hydro-Electric Ordinance, 1951, shall
 be ignored for this purpose;

 (c) an amount equal to the useful life value of each fixed
 asset of the Company (exclusive of investments and land
 but inclusive of buildings, plant, works and fixtures erect-
 ed on or affixed to land, motor vehicles, furniture, office
 equipment, tools, workshop equipment and other mov-
 ables) such useful life value being determined by dividing
 the estimated replacement cost on site of the fixed asset
 in question by the number of years comprised in the
 amortisation period shown in Part II of this Schedule
 opposite to the category of the asset in question and
 multiplying the same by the number of years of estimated
 useful life which remained in that asset at the date of
 revocation of the licence ;

after deducting from such <ggregate the amount of the Company's
debts and other liabilities at such date (contingent Iiabilit'es and
claims being assessed for this purpose in such manner ,as may be
fair and reasonable) and the amount of all moneys paid up on such
date on any Preference shares of the Company and of any arrears
on such date of any fixed cumulative dividend thereon.

 PART II

 Category of asset Amortisation period

Concrete and steel buildings and civil
 engineering works ...... ...... ...... 40 years
Buildings and other works of other
 m materials ...... ..... ...... ...... 15 years
Pipelines and storage tanks ...... ...... 30 years
Hydraulic and steam turbines ...... ...... 25 years
Electric generators, motors end other
 rotating electric machinery ...... ...... 20 years
 Internal combustion engines (under 800
 r.p.m ) ...... ........ ...... 15 years