A 192
Ord. No. 56/78
L.S.
CROWN LEASES (AMENDMENT)
HONG KONG
No. 56 OF 1978
I assent.
Short title.
Amendment of section 9.
(Cap. 40.)
MURRAY MACLEHOSE,
Governor.
5th July, 1978.
An Ordinance to amend the Crown Leases Ordinance.
[7th July, 1978]
Enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof.
1. This Ordinance may be cited as the Crown Leases (Amendment) Ordinance 1978.
2. Section 9 of the principal Ordinance is amended--
(a) in subsection (1) by inserting after "lot or section" the following-
"held under the new Crown lease";
(b) by deleting subsections (2) and (3) and substituting the following- "(2) Subject to the provisions of this section, the rateable value for the purposes of this section of a lot or section held under a new Crown lease is the rateable value or interim valuation as set out on the relevant day in the list declared under section 13 of the Rating Ordinance, of the tenement, or, if there is more than one tenement, the aggregate of the rateable values and interim valuations as so set out of all the tenements comprised wholly or partly in the lot or section. held under the new Crown lease.
(Cap. 116.)
(56 of 1978.)
(3) (a) Where after the commencement of the Crown Leases (Amendment) Ordinance 1978 or the relevant day, whichever is the later, an interim valuation is made by the Commissioner under the Rating Ordin- ance of any tenement comprised wholly or partly in a lot or section held under a new Crown lease consequent upon the redevelopment of the lot or section, then with effect from the first day of the month following that in which the interim valuation becomes effective under the Rating Ordinance or the relevant day, whichever is the later, and notwith- standing subsection (2), the rateable value of the lot or section for the purposes of this section is the aggregate of-
(i) the rateable value of the lot or section as last ascertained under this section; and
(ii) the interim valuation,
less that portion, if any, of the rateable value under sub-paragraph (i) attributable to a tenement or part of a tenement included in or replaced by the tene- ment to which the interim valuation relates:
Provided that this subsection shall not apply to any lot or section if its effect would be to reduce