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Remuneration to railway companies for carriage of parcels.
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2. In the event of any regulations being made by the Treasury in pursuance of the Post Office Acts and providing for the conveyance of parcels by post on different conditions from ordinary postal packets, the following provisions shall, subject to the provisions of this Act, have effect:
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(1.) The Postmaster-General shall from time to time pay to the railway companies parties to the arrangement under this Act the amount herein-after mentioned as the remuneration of all railway companies in respect of the conveyance of parcels by such companies, and the amount so paid (in this Act referred to as the railway remuneration) shall be in substitution for any other remuneration in respect of the conveyance of such parcels, and every railway company shall render in respect of such parcels the services required by this Act, and shall accept the said payment in full satisfaction and discharge for the said services.
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(2.) The amount of the railway remuneration shall be eleven-twentieth parts of the gross receipts of the Postmaster-General from such of the said parcels as are conveyed by railway;
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Provided that if at any time in pursuance of regulations of the Treasury the weights of or rates of postage for parcels differ from those mentioned in the Second Schedule to this Act, the railway companies parties to the arrangement under this Act may, by notice under the hand of the secretary to the London Railway Clearing Committee, require a revision of the amount of the railway remuneration, and the amount as determined on such revision shall be substituted for the above-mentioned eleven-twentieth parts of the gross receipts, subject nevertheless, in the event of any further change in the weights of or rates of postage for parcels, to another revision on notice requiring the same given either by the railway companies or by the Postmaster-General, and so on from time to time.
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(3.) In the case of a revision the amount of railway remuneration shall be a sum to be paid to the companies collectively in manner provided by this Act, and if such amount is not determined by agreement between the Postmaster-General and the railway companies, parties to the arrangement under this Act, the amount shall be referred to arbitration in manner provided by this Act.
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(4.) The provisions of this section (in this Act referred to as the arrangement under this Act) shall continue in force during a period of twenty-one years next after the said regulations come into operation, and thereafter until the expiration of twelve months’ notice to determine the same given by the Postmaster-General on the one side, or by the railway companies on the other, either before or after the expiration of the said twenty-one years.
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