Hong Kong Tramways
Section 30 of the Ordinance required the government to acquire Hong Kong Tramways' land and assets at their full market value. In exchange for the surrender of the Hong Kong Tramways' Hong Kong Island operations, the government indicated its willingness to offer the right to operate the future Tuen Mun light rail system to the company. However, in January 1983 the government announced that it had not been able to reach an agreement with the Kowloon Wharf and Godown Company (the owner of the Hong Kong Tramways). The main sticking points in the negotiations appear to have been the amount of profit that the company would have been allowed to earn from the Tuen Mun light rail network and the granting of property development rights. Also during this time, the decision had been taken to construct the MTR Island line underground as had been the case with the MTRC's earlier Kwun Tong line.