C.S. 166
CONFIDENTIAL
機密
XCC(77)14
Local exchanges
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- 4
With regard to (c) of paragraph 1 above, Honourable Members will note the explanation in paragraphs 13 to 16 of XCC(76)18 attached, that for various reasons the interchangeability of land exchange entitlements could not be set aside. Nevertheless the Secretary for the New Territories thought that there might be some scope for limited local exchanges. Because exchange entitlements can be used to acquire land by exchange in any town where the exchange system applies, investors take a more or less equal interest in buying exchange entitle- ments deriving from, and lands likely to be resumed in, all of the New Territories towns. Priority for exchange is now given to the oldest exchange entitlements from whichever district they may have been
derived. This system is generally accepted, but it is a source of complaint from some villagers in areas such as Sha Tin, who have retained ancestral lands around their villages, which they consider should have priority for exchanges in those areas. Any priority which they could gain when the waiting period is long is, of course, of great value.
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Pressure also comes from purchasers of land in the develop- ment areas who do not wish to wait a long while before they can obtain an exchange. Both these reasons for complaint are understandable but the Secretary for the New Territories advises that it would not be possible to allocate areas of land for priority local exchange at, say, Sha Tin, without doing the same on, say, Tsing Yi. The latter may be impossible because there is insufficient land. Thus the exchange system would become further complicated and a source of fresh complaint. The Secretary therefore advises that in view of the substantially improved exchange programme and the real possibility of reduction of the waiting time to about two years, that except in the case of certain village lands in Tuen Mun, a special local exchange scheme should not be pursued.
Public relations
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The proposal not to increase the cash payment to $17.00 per square foot will be announced very shortly by the issue of a press statement. The decision not to institute a local exchange system will be passed on to the Heung Yee Kuk at a routine meeting.
CONFIDENTIAL
機密