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Conversion of
specified Crown
leases
Effect of
sub-leases.
Right to
surrender.
an instrument which is registered in
a District Land Office and also means any portion of a lot retained following such assignment or alienation;
"specified Crown lease" means every Crown lease
existing immediately before the commencement
→ of this Ordinance under which land in the
New Territories is demised for a term ending
on 27 June 1997.
3. With effect from the commencement of this
Ordinance, the term of every specified Crown lease
shall be amended to an indefinite term and, notwith-
standing any rule of law to the contrary, every such
lease shall continue to have effect as a lease and,
accordingly, every incident of the relationship of
landlord and tenant shall continue to have effect in
accordance with the terms of each such lease for so
long as the lease shall subsist.
4. Notwithstanding any rule of law to the
contrary, no sub-lease created out of a specified
Crown lease shall, regardless of the term of the
sub-lease, take effect otherwise than as a sub-lease.
5.(1)Subject to subsection (2), the Crown will
accept from the person entitled and without payment
of compensation a surrender of a specified Crown lease
to the intent that the term granted by the lease (as amended by this Ordinance) shall be extinguished.
(2) The right conferred by subsection (1) may
be exercised after giving to the Secretary for the
New Territories not less than 2 years' notice of intention to surrender.
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