ment of sites of certain buildings protected under the Landlord and Tenant Ordinance (Cap. 255) in respect of which the Building Authority has served a demolition order or has issued a certificate that as a result of fire or other calamity the building has been demolished or rendered so dangerous as to require demolition, and (b) the payment of com- pensation by the owners of such buildings to protected tenants up to the amount of the increment in value which accrues to the owner by reason of his obtaining vacant possession on the demolition. The Ordinance provides for the registration in the Land Office of redevelop- ment notices, orders and awards of compensation, and that upon the registration of an award the compensation and interest accruing thereon shall until payment constitute a charge on the property in favour of The Colonial Treasurer Incorporated in trust for the persons entitled to the compensation. The Ordinance also provides for the apportion- ment by the Land Officer of the Crown rent of a property subject to a redevelopment order where it is a section of a lot within the meaning of the Crown Rents (Apportionment) Ordinance (Cap. 125).
149. The Land Registration Fees (Amendment) Regulations, 1963, altered the fee payable for a search in the Land Office from $2 for each lot or section in respect of which records were produced to $1 for each record produced subject to a maximum of $100 for all the records relating to the same sub-divided building.
Companies
150. The Companies (Amendment) Ordinance, 1963, in addition to making some minor amendments, amended the Companies Ordinance in two important respects. In the first place, for the former section 8 under which a company desiring to alter the provisions of its memoran- dum with respect to its objects had to petition the Court for its con- firmation, the Ordinance substituted a new section based on section 5 of the Companies Act, 1948 in Britain, under which a company may alter its objects by special resolution, which will automatically take effect unless an application is made to the Court by shareholders or debenture holders in accordance with the section for the alteration to be annulled, in which event the alteration does not have effect except in so far as it is confirmed by the Court. In the second place the Ordinance introduced into the Companies Ordinance much wider powers of ap- pointment of inspectors to investigate the affairs of a company, the new provisions being based largely on sections 164 to 171 and 175 of the said Companies Act, 1948.
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