9
(e) in Form 5—
(i) in paragraph 2(a), by deleting "Lender [" and substituting the following-—
"Lender by way of legal charge subject to the covenants conditions and provisos contained in the Crown lease [and"; and
(ii) in paragraph 2(d) of the Schedule, by deleting "Property" and substituting the following-
"Lot number”.
27. The Fourth Schedule to the principal Ordinance is amended in Amendment paragraph 10(d) by deleting "instrument" and substituting the following
"instruments,”.
of Fourth
Schedule.
of section 9
28. Section 9 of the Law Amendment and Reform (Consolidation) Amendment Ordinance is amended by deleting "and sections 2, 3, 4, 10 and 11" and substituting the following--
(Cap. 219.)
of Law Amendment
section 11 of this Ordinance and sections 25 and 49 of the and Reform Conveyancing and Property Ordinance".
(Consolidation) Ordinance.
(Cap. 23.)
29. Section 2A(2) of the Land Registration Ordinance is amended by Amendment of inserting, immediately after "before", the following—
", on".
section 2A of Land
Registration Ordinance.
Explanatory Memorandum
The purpose of this Bill is to improve the law relating to con- veyancing and property contained in the principal Ordinance by dealing with practical difficulties that have emerged since the Ordinance was enacted in 1984.
2. Clause 2 amends the punctuation in section 5(1)(a) to clarify its meaning. Section 5(1)(c) is deleted as its effect is already covered by paragraph (a).
3. Clause 3 repeals and replaces section 8 which deals with the severance of a joint tenancy to convert it into a tenancy-in-common whereby co-owners own the property in undivided shares. The amendment is to protect purchasers and mortgagees who have provided valuable consideration and to provide certainty of their title. It provides for sever- ance by an instrument (as defined), and for a new means of severance between joint tenants by a notice served by one upon the other. It is intended to avoid any doubt that may have existed under section 8 as enacted as to whether severance by notice would be recognized in equity by a court. The qualification "at law" in section 8 as enacted could have related to "severance" or to "tenancy". Sub-paragraphs (i) and (ii) are used in the Bill to separate the two purposes of paragraph (b). Also "a notice" to the other joint tenant in paragraph (b)(ii) is considered better than "notice".
(Cap. 128.)