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Lots and 532 Inland Lots which are leased for 70 years only.
5.
I do not consider that it in reasonable to ask
the Government now to formulate the terus upon which it will deal with the enormous amount of Crom Land in the Colony held under 75 years lenses; but I see no objection to making an announcement in the following terms in connection with which I would refer you to the remarks on pages XXVII and "VIII of the Report of the Hong- -kong Land Commission 1866-1887;-
(a). Not less than 18 months prior to the expiration of the lense of any land held from the Crowm for 70 years the Coloni- -al Secretary will notify the lessee whether the Crowm will re- -enter into possession of the land and the buildings situated
thereon or not.
(b). If it shall be considered desirable on the part of
the Crom to re-enter on such land the Colonial Secretary will at the same time inform the lessee that compensation for the build- -ings and improvements will be paid for at a valuation to be fair- -ly and impartially made by the Surveyor of His Lajesty, His Heirs.
Successors or Assigns.
(c). Such compensation shall only be payable if the lessee refuses to accept a renewal on the terms set out in para- -graph (d) hereof and if the Crowm effects a new lease with a third party within 18 months of the expiration of the present lease. Under no other circumstances shall any compensation be pay-
-able.
(d). If it shall be considered desirable to rant an-
-other lease of such land the Colonial Secretary will at the same
time forward to the lessee a statement of the premium and of the
Crow Rent in consideration for which the Crown will renew the
lease for one further period of 7b years.
(e). In the event of any such land being divided into sections and sub-sections, such sections and sub-sections shall be regarded as separate Lots for the purposes above stated and the registered owners thereof shall be dealt with as though they had
held a lease direct from the Crow.
(f).