AUGUSTINE S K. CHUNG ROOM 1115, HANG LUNG CENTRE, 11th FLOOR, PATERSON STREET, HONG KONG. TEL: 5-771862-3
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(vi)
their 20% deposit would be forfeited to the vendor according to any agreement for sale and purchase. In the circumstances, no one would dare take that risk.
That being the case, how could we expect the non-resident owners know what to do or accept the offer made by the Authorities concerned on the question of compensation value when they were not informed clearly and in writing how and when the compensation, if agreed, would be paid to them? There were probably a few non-resident owners who have approached the Authorities concerned direct and obtained separate deals. Nevertheless, before the reversion day, most
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of the non-resident owners did not know what to do.
It was well after the reversion day and on 28th March, 1979 that these. non-resident owners otherwise known as absentee owners were given more written quidelines as to what they should do. In a letter from Mass Transit office to the
Sai Lau Kok owners dated 28th March, 1979, it says "Absentee owners i.e. former owners who did not occupy their own premises, will receive compensa- tion for their interest in the resumed property as at the date of its reversion to the Crown the reversion date of the buildings in Sai Lau Kok was 12th November, 1978 in accordance with the statutory provisions laid down in the Mass Transit Railway (Land Resumption and Related Provisions) Ordinance which provided that the owners will be paid a fair interest in a property is for investment purposes and as this investment is fully protected by the statutory provision of compensation,
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to be Cont'd/P.10
गभु