MECA
ниворн
27 HOV 337
CONFIDENTIAL
CONFIDENTIAL
FM
FCO
TO PRIORITY HONG KONG
TELNO 3113
OF 241345Z NOVEMBER 87
INFO PRIORITY PEKING
000421
MDLOAN 4604
TOP COPY O DIST ?
MY THIRD IPT: ANNUAL REPORT ON HONG KONG PASSAGE ON THE LAND
COMMISSION
C)
1.
LAND COMMISSION
·
THE SINO-BRITISH LAND COMMISSION HAS CONTINUED ITS RECORD
OF GOOD PROGRESS, REACHING AGREEMENT ON THE PROPOSED NEW TERRITORIES LEASES (EXTENSION) BILL AND ON THE METHODS OF
DEALING WITH LEASES FOR SPECIAL PURPOSES. UNDER THE
TERMS OF THE JOINT DECLARATION, PREMIUM INCOME FROM LAND SALES IS SHARED EQUALLY AFTER DEDUCTIONS FOR THE AVERAGE COST OF LAND PRODUCTION, BETWEEN THE HONG KONG GOVERNMENT AND THE FUTURE SPECIAL ADMINISTRATIVE REGION GOVERNMENT.
TO DATE, MORE THAN HK DOLLARS
BILLION HAS BEEN CREDITED
TO THE FUTURE SPECIAL ADMINISTRATIVE REGION'S GOVERNMENT'S ACCOUNT. THE MONEY IS MANAGED IN TRUST BY THE CHINESE
SIDE OF THE LAND COMMISSION FOR THE USE OF THE FUTURE
SPECIAL ADMINISTRATIVE REGION GOVERNMENT AFTER 1997.
...
IN MARCH, THE COMMISSION REACHED AGREEMENT ON THE LAND DISPOSAL PROGRAMME FOR THE PERIOD 1 APRIL 1987 TO 31
MARCH 1988. THE PROGRAMME AGREED WAS 61.74 HECTARES.
THIS EXCEEDED THE ANNUAL LIMIT OF 50 HECTARES SPECIFIED
IN ANNEX III OF THE JOINT DECLARATION. THUS THE LAND
COMMISSION ONCE AGAIN MADE SENSIBLE USE OF THE PROVISION
IN THE ANNEX WHICH ALLOWS FOR FLEXIBILITY IN ESTABLISHING
THE ANNUAL LAND DISPOSAL LIMITS TO MEET REQUIREMENTS.
HOWE
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