1528
HONG KONG LEGISLATIVE COUNCIL — 1 June 1988
CONVEYANCING AND PROPERTY (AMENDMENT) BILL 1987
Resumption of debate on Second Reading (28 October 1987)
Question proposed.
MR. PETER C. WONG: Sir, when the principal Ordinance was enacted in 1984, it was warmly welcomed by the legal profession.
At the resumed debate of the Conveyancing and Property Bill 1984, I said:
'The law relating to immovable property and conveyancing in Hong Kong has remained virtually unchanged since 1844. It is mainly based on English legislation of the 16th century and later which apply by virtue of the Application of English Law Ordinance . .
After 143 years, we have now before us a fairly comprehensive piece of legislation of our own dealing with conveyancing and property, both movable and immovable. The Bill attempts to embody the best of modern English law and local practice and is designed to meet our own particular needs. To this end, it is, in my view, a typical Hong Kong compromise, one that will preserve continuity while at the same time incorporating useful and practical improvements. This Bill assumes greater importance if it is viewed in the light of the rapid development of Hong Kong as a modern financial and investment centre. In view of 1997, it is essential that we should have our own in- dependent legislation which is not dependent upon English law and practice
While every effort has been made to ensure that the Bill is free from deficiencies, it is inevitable that it would be necessary to introduce refinements and improvements in the light of experience. It would not be possible to consolidate and up-date law which has existed for 143 years in one attempt without error or omission...
The Registrar General has agreed to monitor and review the new legislation after it has been enacted . . .”
Sir, experience has shown that indeed there is scope for expansion, improve- ment and refinement. The Bill, which incorporates a number of useful proposals, will further improve the law in this area.
The ad hoc group formed to study the provisions of the Bill met seven times, and had extensive discussions with the Administration. As a result, a number of useful and practical amendments have been agreed. Both the Bill and the agreed amendments are highly technical in nature. I shall therefore only highlight some of the more important provisions of the Bill and proposed amendments to it.