2632
No. 17 of 1921.
Schedule.
Defraying of cost of reclamation.
PRAYA EAST RECLAMATION.
scheme under the provisions of sub-section (1) (b) or (c), and who has not entered into the agreement referred to in sub-section (5), parts with the said right of participation to any other person, the person to whom the said right of participation shall for the time being belong shall thereupon be entitled to participate in the said scheme in all respects as if he had reserved or acquired the said right before the commencement of this Ordinance.
(5) Every person who is entitled to participate in the said reclamation scheme, and who desires to do so, shall within three months after the commencement of this Ordinance attend at the Land Office and enter into an agreement in the form of the agreement in the Schedule.
(6) If any person who was entitled to participate in the said reclamation scheme shall have failed to execute the said agreement within the said period of three months, such person shall cease to have any right to participate in any way in the said reclamation scheme, and such person shall have no claim to any damages or compensation either in respect of his former participation rights or in respect of any depreciation or injurious affecting of his property or business resulting directly or indirectly from the carrying out of any of the authorised works: Provided that the Governor in Council may award to such person such sum of money as he may in his absolute discretion think fit by way of compensation for any such depreciation or injurious affecting.
(7) All persons who are entitled to participate in the said reclamation scheme and who execute the said agreement are in this Ordinance referred to as Marine Lot owners.
5.-(1) The cost of the reclamation shall be defrayed from a fund to be provided by the Marine Lot owners and the Government of Hongkong.
(2) The Government of Hongkong shall contribute to the said fund a sum which shall bear the same proportion to the total cost as the areas allotted to the Government of Hong-kong shall bear to the total area allotted.
(3) Each Marine Lot owner shall contribute to the said fund a sum which shall bear the same proportion to the total cost as the areas allotted to him shall bear to the total area allotted.
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