}
N
Friday, November 9, 1973
Mr. Edwards said:
"The measures are closely linked to the
new rent control legislation and are aimed at obtaining the best possible
use of the existing supply of domestic accommodation.
tt
He emphasized that the revised legislation was a deterrent measure
in that it discourages the hoarding of domestic premises for capital
appreciation or for excessively high rents."
Mr. Edwards pointed out that unoccupied non-domestic premises
would not be affected by the new measure and would continue to enjoy a
refund of half the amount paid.
"In addition, the free rates period of six months for this type
of premises in newly completed buildings remains unchanged," he added.
HIU KWONG STREET RE-OPENED
The section of Hiu Kwong Street between Block No. 13 and No. 17,
Sau Mau Ping Estate, is now re-opened to traffic following the completion
of repair work to the embankment of Hiu Kwong Street near Sau Lai Street.
13