M(87) 15
178
A156
NEW TERRITORIES LEASES (EXTENSION) BILL
(L/M to BLDC 1/10/1020/84 V)
The Council considered memorandum XCC (87)57.
The Council ADVISED and the Acting Governor ORDERED
(a) that the New
Territories
Leases (Extension) Bill 1987
at Annex A to the memorandum
should be introduced into
the Legislative Council; and
(b) that when the Bill is
introduced
into
the
Legislative Council,
it
should be stressed that the
3% annual rent payable on
extension of a lease will be
less than the premium which
would be payable on the
grant of a new lease. The
point
made
should also be
that Government hopes to
complete its studies into
airport options as soon as
possible.