Art. XXII. The members of the Commission of the Public Debt will not be able to accept any other functions in Egypt.
Railways and Port of Alexandria.
The Administration of the railways and port of AlexandriaArt. XXIII. The railways which are now actually being worked, and the port of Alexandria, will be placed under a Special Administration, which will be accountable only to us. railways This Administration will be composed of five Administrators, of whom two will be English, one French, and two natives.
One of the two English Administrators will have the functions of President.
Art. XXIV. The annexation of the Administration of the Port of Alexandria to the Special Administration of the Railways, and the application of their revenues to the service of the Preference Debt, are not in any case to prejudice the contracts already existing with the contractors, nor to modify the relations of the Government to the latter with regard to the work which is still to be executed.
Art. XXV. The nomination and the choice of the Administrators will belong to us, but in order to satisfy ourselves with regard to the guarantees offered by the foreign Administrators whom we may choose, we shall address ourselves unofficially to the Governments of England and France, and we shall only engage persons furnished with the authority or the acquiescence of their Governments. In the event that one or the other of these Governments should not give its authority or acquiescence, our choice will be made amongst the higher officials, either civil or military, of the two countries, or of their great railway companies, either in active service or on the retired list.
Art. XXVI. The foreign Administrators will be named for five years. In case of their resignation or their death the same proceedings will take place for replacing them as have been fixed for their nomination.
Art. XXVII. The Administration, formed as described above, will continue to act until all the privileged bonds specially created have either been redeemed or paid off. The port of Alexandria being comprised in this guarantee for the
