4.57
THIS ANNEX WAS WELL RECEIVED BY THE REAL ESTATE SECTOR, LAND OWNERS, PROFESSIONALS SUCH AS ESTATE SURVEYORS, AND THE HEUNG YEE KUK. BY THE NATURE OF THE SUBJECT AND ITS IMPORTANCE TO HONG KONG'S ECONOMY, IT ATTRACTED MANY COMMENTS
AND QUESTIONS WHICH FOCUSSED ON:
·
PAYMENT OF ANNUAL RENT
•
LEASE ARRANGEMENTS
THE LIMIT ON NEW LAND GRANT
THE SHARING OF PREMIUM INCOME
THE LAND COMMISSION
4.58
AS REGARDS PAYMENT OF AN ANNUAL RENT EQUIVALENT TO
3 PER CENT OF THE RATEABLE VALUE OF THE PROPERTIES, CONCERN
WAS EXPRESSED THAT THIS ARRANGEMENT MIGHT BECOME AN EXCESSIVE
BURDEN BECAUSE RATEABLE VALUE, TO WHICH THE RENT WOULD BE
PEGGED, WAS LIKELY TO INCREASE. TO REMOVE THIS ANXIETY, IT WAS
SUGGESTED THAT IN ADJUSTING THE LAND RENT IN RELATION TO THE
RATEABLE VALUE, INCREASES SHOULD BE SUBJECT TO AN ANNUAL UPPER
LIMIT EXPRESSED IN DOLLAR TERMS. AS AN ALTERNATIVE TO THE
PAYMENT OF THE ANNUAL RENT AS DESCRIBED IN THIS ANNEX, LAND
OWNERS SHOULD BE ALLOWED TO PAY LAND PREMIA ON A ONE-OFF
BASIS.
4.59
AS REGARDS LAND LEASES, MANY QUESTIONS WERE ASKED
FOR THE SPECIFIC ATTENTION OF THE LAND COMMISSION. THESE ARE
LISTED BELOW :
IN VIEW OF THE CHANGE IN THE LAND POLICY, WOULD
HOLDERS OF LEASES ALREADY EXTENDED ON PAYMENT OF
PREMIA BY INSTALMENTS BE REQUIRED TO PAY THE OUT-
STANDING INSTALMENTS WHEN THE JOINT DECLARATION CAME
INFO EFFECT IN 1985?
WHAT WOULD BE THE TERMS FOR RENEWAL OF THE LEASES
EXPIRING BEFORE THE DRAFT AGREEMENT BECAME EFFECTIVE
IN 1985?
AS STATED IN THE ANNEX, NON-RENEWABLE LEASES EXPIRING
AFTER 1997 WOULD BE DEALT WITH IN ACCORDANCE WITH THE
RELEVANT LAND LAWS AND POLICIES OF HK SAR, COULD THAT
BE TAKEN TO MEAN THAT THEY WOULD BE DEALT WITH IN THE
SAME WAY AS THOSE LEASES EXPIRING BEFORE 1997?
WHAT WOULD BE THE ARRANGEMENT FOR THE UNIQUE FREEHOLD
LEASE WHICH WAS GRANTED TO A RELIGIOUS BODY?
SECRET-
/HOW.