47. The number of New Territories modification cases on which the Registrar General's New Territories Section gave advice to the New Territories Administration totalled 40, two less than last year.
Fulfilment of Building Covenants
48. 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 applica- tion 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 exten- sion 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 announcement. After completing a review of the position of the various development 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 received the benefit of all the various extensions the original commencement or completion periods laid down in individual Exclusion Orders or the periods laid down in individual building covenants would in all cases be reintroduced. These periods would then commence to run afresh from the expiry of the previous free extensions as if they were being newly imposed. The latest concessions, however, would not apply in respect of any industrial sale lot with an uncompleted building covenant which had been the subject of an assignment under the terms of the concession announced by Government in July 1968 (see paragraph 36).
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