IV ANNEX III: LAND
CONFIDENTIAL
98. WILL LEASES ISSUED BY THE HONG KONG GOVERNMENT LASTING AFTER
1997 CONTINUE TO BE HONOURED BY THE SAR GOVERNMENT?
Yes. Agreement provides for all leases issued by the Hong Kong Government and all rights in such leases to be honoured by the SAR
Government.
99. WILL THE PEOPLE OF HONG KONG BE ABLE TO CONTINUE TO OWN AND
PASS ON THEIR LAND?
Yes. The right to ownership of property and inheritance is provided
for in the
100.
agreement.
WHAT ABOUT LEASES IN THE NEW TERRITORY?
An
Will be extended without payment of premium until 30 June 2047.
annual rent shall be payable from the date of extension, equivalent to 3 percent of rateable value.
101.
WILL NOT THE LAND COMMISSION INTERFERE IN THE ADMINISTRATION
OF HONG KONG?
No. The Land Commission has four specific tasks:-
to consult on the implementation of the land annex:
- to monitor observance of the limit of new law to be granted by the
Kong Kong Government:
to decide on proposals by the Hong Kong Government to increase the 50 hectares pa limit on the sale of new land.
to examine proposals by the HKG to draw on the SAR Government's
share of premium income.
V EXCHANGE OF MEMORANDA
A.
UK MEMORANDUM
102. NATURE OF NEW STATUS?
It will be a new status (new form of nationality) under the British
Nationality Act.
103. CHINESE ATTITUDE?
CONFIDENTIAL