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Modification of Lease Covenants
43. Before the war many lots were sold with height and other restrictions which are, under the changed conditions of modern Hong Kong, no longer considered necessary. There are therefore many cases in which Government is prepared to grant modifications of the original restrictions on terms usually including the payment of an additional premium. During the year 47 applications for modifications were received, 7 less than in 1967-68. Questions arising out of the applica- tions are normally discussed and decided at the meetings mentioned in paragraph 40.
44. The number of New Territories modification cases on which the Registrar General's New Territories Section gave advice to the New Territories Administration totalled 39, 22 more than last year.
Fulfilment of Building Covenants
45. On 3rd November 1965 the Government, recognizing the difficulties of developers under the conditions then prevailing in borrowing money to complete their developments within the time limits imposed upon them, announced that a free extension of one year would be granted for the fulfilment of building covenants in Exclusion Orders and Conditions of Sale or Grant which were made or entered into before 1st July 1965. In a further announcement on 20th September 1966, the concession was extended for one year so that developers who applied for and were granted a year's extension under the November 1965 announcement would be granted on application a further one year's free extension provided the extension already granted expired before 30th June 1967. On 8th November 1967, the Government again announced that yet another one year free extension would be granted on application in all cases where one or more previous free extensions of one year had been granted and expired before 30th June 1968, and that an extension of one year would be granted to any new applicant who qualified under the original November 1965 announce- ment. After completing a review of the position of the various devel- opment schemes concerned, the Government announced on 14th October 1968 that a further free extension of one year would be granted to those developers who had already received at least one previous free extension provided the extension or extensions previously granted would expire before 30th June 1969. After a developer had
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