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TERMS OF AN AGREEMENT BETWEEN THE GOVERNMENT OF HONG KONG AND THE ADMIRALTY.
Resolution made and passed by the Legislative Council on the 7th day of October, 1959.
Resolved that the following Terms of an Agreement between the
Government of Hong Kong and the Admiralty be approved-
(1) The Admiralty will surrender to and hand over to the Government of Hong Kong on or before the 1st day of October, 1959 all that area known as Kowloon Naval Dock- yard together with all piers, wharves, anchorage and appur- tenances thereon to belong:
(2) the Admiralty will hand over to the Government of Hong Kong by stages after the 30th November, 1959 that part of the Hong Kong Naval Dockyard coloured yellow on the annexed plan, such hand-over to be completed on or before the 1st January, 1962:
(3) the Government of Hong Kong will pay to the Admiralty the sum of £7,000,000 sterling by the following instalments:-
(a) a first instalment of £1,000,000 on the 1st day of July,
1960; and
(b) twenty-four quarterly instalments of £250,000 each, the first of such instalments to be paid on the Ist day of July, 1961:
(4) the Government of Hong Kong will reimburse to the Admiralty one half of the cost of walling up the entrance to the dry dock known as No. 1 Dock;
(5) the Government of Hong Kong will provide at its own expense a boundary wall enclosing that part of the Hong Kong Naval Dockyard which is to be retained by the Admiralty as coloured blue on the annexed plan.
COUNCIL CHAMBER,
7th October, 1959.
(Secretariat CR3/676/57)
Karomand
Deputy Clark of Councils.