File 3632/1912 ‘Telegraphs – Wireless in Persia’ [‎231r] (466/640)

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Article 11.
The penalties above indicated will not be applicable in cases of interruption
or other damage to the line when the Company has declared that it has
already ordered the construction of a new line which is to be laid in the
course of a year from the date of damage, without excepting any months.
In such case, it will only lose the right to the payment of the subsidy for
all the time which shall elapse from the beginning of the damage to the
re-establishment of regular communication.
lim, suaii na\e lepaneci me existing line within a year, calculated, without
exception, as mentioned in the preceding article, it will pay the fine referred
to in Article 10 for every quarter year which shall have actually elapsed
from the date of the interruption to that of the repair.
If, after the above-mentioned declaration, neither the existing line shall
have been repaired, nor a new one substituted within the period of the said
year, without exception of any months, the Company will forfeit the line, of
which the Government will remain absolute proprietor, without obligation to
pay any compensation ; and the security of 20,000 lire, mentioned in Article
16, will remain the property of the Government.
After the period of 30 years from the date of the bringing into operation
of the first cable, the Italian Government will become absolute proprietor of
the cable or cables existing in the sea as a result of the present Convention,
without obligation to make any further payment or any reimbursement or
compensation whatever.
As a guarantee of the fulfilment of the obligation undertaken by the
Company to lay the cable within the period fixed by Article 3, it will, when
signing the present Convention, make a deposit of 20,000 lire in bonds of
the State Debt at the exchange value according to the quotation of the
preceding day at the Rome Exchange.
Such deposit will be acquired by the Italian Government and the contract
will be regarded as void if the above said term elapse without the cable
having been laid.
If the laying of the cable be completed successfully, the above-mentioned
sum of 20,000 1 ire in bonds of the State Debt will be deposited in the Bank
of Deposits and Loans on account of the Company and will be kept as security
for the payment of the fines and other penalties treated of in Articles 10 anil
13. It is understood that the Company will be the owner and will receive
payment of the coupons of the bonds thus deposited.
The said deposit or security must be restored to its integrity by deduction
from the next following six-monthly payment should it have been reduced
for the satisfaction of fines.
At the expiration of the Convention the deposit then existing will be
restored to the Company, less the amount of any fines to which it may have
The material used by the Company in carrying out this undertaking shall
be free from all customs charges whatever.
The Eastern Telegraph Company shall have the right to cede its contract
to a society of known solvency, without withdrawing, however, the existing
security.
Article 13.
Article 14.
Article 15.
Article 16.
been subject.
Article 17.
Article 18.
Article 19.
The present Convention shall be exempt from the tax for stamping,
registering, &c.
a 39798.