Chapter 3 Land Leases
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Objectives
After the lessons, students should be able to:
1.
leases as
describe the major provisions on land specified in Annex III of the Joint Declaration;
2.
explain the functions of the Land Commission;
3.
identify the major Commission; and
agreements reached by the Land
4.
recognize the importance of land leases to the future development of Hong Kong.
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Content Outline
I.
MAJOR PROVISIONS ON LAND LEASES IN THE JOINT DECLARATION
(1) All leases of land granted or decided upon before the entry into force of the Joint Declaration and those granted thereafter in accordance with Annex III of the Joint Declaration shall continue to be recognised and protected under the law of the HKSAR.
(2)
(3)
All leases of land granted by the British Hong Kong Government not containing a right of renewal that expire before 30 June 1997, except short term tenancies and leases for special purposes,
may be extended if the lessee so wishes for a period expiring not later than 30 June 2047 without payment of an additional premium. An annual rent shall be charged from the date of extension equivalent to 3 per cent of the rateable value of the property at that date, adjusted in step with any changes in the rateable value thereafter.
From the entry into force of the Joint Declaration until 30 June 1997, new leases of land may be granted by the British Hong Kong Government for terms expiring not later than 30 June 2047. Such leases shall be granted at a premium and nominal rental until 30 June 1997, after which date they shall not require payment of an additional premium
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