dec
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an
The work of the Group has been taken forward not only at the regular
plenary meetings but also by smaller groups of experts meeting on
ad hoc basis to
discuss specific issues. The Group's achievements to
date have been widely welcomed and appreciated in Hong Kong. The
friendly and cooperative atmosphere in which all contacts in and under the Group have taken place is most encouraging and augurs well
for the continued close cooperation that will be needed between
Britain and China as 1997 approaches.
<Pa celis)
italia
(c)
Land Commission
<ol>
-)
12.
The Sino-British Land Commission has continued to make good
from
accounting
for
the
reaching agreement progress,
the on
arrangements
sharing of income
land sales and on the form and content of a
number of important legal documents for use in land transactions
Hong Kong.
the Joint Declaration, premium income from
transactions, after deductions for the average cost of
production, is shared equally between the Hong Kong Government
future Special Administrative Region Government.
the
Under
To
in
land
land
and
date more
than HK$ 106 billion has been credited to the future Special
a Hong Kong
an Investment
is Fund
will be
Administrative Region Government's account. The Chinese side of the
Land Commission manages this income in trust, through Special Administrative Region Government Land Fund and
Committee, both of which were set
expected
available to the
the future Special Administrative Region Government
1997. The Commission also reached
programme
programme
up
to continue to
grow
SO
that
in August 1986. The
sum a very substantial
in
agreement on the land disposal
for the
agreed
was
1 period
1986 April
57058 hectares.
to
the
31 March 1987.
As with
previous year,
The
above the
this
was
annual limit of 50 hectares specified in Annex
III to the Joint Declaration. Thus for the second successive year
the Land Commission has made sensible use of the provision in Annex III which permits flexibility in the application of the annual limit
of new land to be granted. Pa
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