MEMORANDUM
Colonial Secretariat,
Hong Kong.
12th January, 1949.
75 Year Non-renewable Crown Leases
On the 27th January 1948 Council discussed a draft press announcement relating to applications for the grant of new Crown leases of rural building lots held on 75 year non-renewable leases. This announcement was to indicate the terms which would be offered to those lessees who had not applied for or received the special concessions which were offered in an announcement made in June 1946, which concessions became inapplicable after the 16th June 1947.
2.
As a result of the discussion in Council, a revised draft as at (37) in the file was submitted to the Secretary of State with the despatch at (46).
3. The Secretary of State's reply at (49) was not wholly favour- able, and in particular he raised objection to calculating the premium for a new lease solely on the undeveloped value of the land. The reasons. for so doing were explained to the Secretary of State in the despatch at (54), and the opportunity was also taken of clarifying further certain passages in the draft announcement.
4.
In his savingram at (57) the Secretary of State accepted the concession of calculating premia on undeveloped values, but asked that every opportunity be taken of underlining the special nature of the concession i.e. that it arises from the circumstances following on the war. He also suggested certain verbal alterations and a re-arrange- ment of paragraphs 4 and 5 of the announcement.
5.
Further consideration by the Director of Public Works and the Land Officer of the correspondence with the Secretary of State has resulted in some more verbal modifications which do not depart from the substance of the Secretary of State's suggestions, but serve to clarify and emphasise them. The resultant draft announcement which has been agreed by the departments concerned is at (58) in the file. been gestetnered for members of Council.
6.
Copies have
It is suggested that this latest draft may now be approved and published at an early date. A number of applications have had to be held up pending a decision of the terms on which new leases would be granted, and it is desirable that these conditions should be made known as soon as possible.
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