390
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HONG KONG LEGISLATIVE COUNCIL.
Notwithstanding this, I have every hope that the budget for 1932 will balance always provided that exchange is maintained round about 1s/3d to 1s/4d and affairs in Hong Kong remain normal.
THE COLONIAL SECRETARY seconded, and the Bill was read a first time.
FORESHORES AND SEA BED AMENDMENT ORDINANCE, 1932.
THE ATTORNEY GENERAL moved the first reading of a Bill intituled "An Ordinance to amend the Foreshores and Sea Bed Ordinance, 1901." He said. The object and scope of this amending Bill is explained in the memorandum attached.
THE COLONIAL SECRETARY seconded, and the Bill was read a first time.
Objects and Reasons.
The "Objects and Reasons" for the Bill were stated as follows:
1. The title of the principal Ordinance (No. 15 of 1901) is "An Ordinance to validate Crown leases of foreshore and sub-merged lands for reclamation, and to facilitate the making of such leases".
2. The Ordinance however contained, in sections 3 and 5, provisoes requiring the consent of lot holders which tended to frustrate that object; especially as the Ordinance contained no provision for compensation.
3. There are many Ordinances, of which the Crown Lands Resumption Ordinance, 1900, and the Harbour of Refuge Ordinance, 1909, are examples, where, subject to provisions relating to the payment of compensation in proper cases, the interests of private lot holders are extinguished or subordinated to the interests of the public.
4. This amending Ordinance therefore repeals the provisoes referred to above and makes provision for compensation to persons injuriously affected.
5. Section 2 of this Ordinance substitutes a new section for section 3 of the principal Ordinance. Sub-section (1) of the new section re-enacts the original section as far as the first proviso thereto, except that the words "(renewable on the usual terms)" have been added as it is usual for Crown Leases for 75 years to be renewable. Sub-section (8) re-enacts the last paragraph of section 3 of the principal Ordinance.