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Wednesday, January 17, 1973
This, he said, would save the expenses of the landlord and the tenant
in applying to the Tenancy Tribunal if he re-let the premises, after recovering
possession of the building, to a new tenant at the market rental for a term
of not exceeding five years.
This would also save the time of the Tenancy Tribunal and other
administrative expenses.
On post war domestic premises which were now subject to the control
of the Rent Increases (Domestic Premises) Control Ordinance, Mr. Woo said it
would seem unfair to increase their rateable value while their rent was still
controlled by the ordinance.
Actual Rent
He added that it was only "fair and reasonable" that the rateable
value of such buildings should be assessed at the actual rent received by
the landlord and not on the rent which he might have received if the premises
were not under control.
Also commenting on this Bill was the Hon. Dr. S.Y. Chung who said that
the current valuation list was assessed in accordance with market rents in
1968, almost five years ago.
The rateable values of these new buildings constructed in the intervening
years were, however, based on market rents at the time when they were assessed. Consequently, this practice had created some serious unfair and unjust
burden on tenants and, particularly, owner occupiers of new buildings
constructed after 1968.
/There are
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