Thursday, March 14, 1974
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"These doubts have now been removed by a court judgment to the
effect that rateable values cannot be restricted to the levels of rents," he said. "So on re-assessment, rateable values may now exceed the restricted rent passing by a considerable amount. The resulting tax charges could then be quite inequitable.
"To prevent this happening it is proposed to freeze the property tax charges for such premises to that payable as at April 1, 1973, not withstanding any subsequent re-assessment," said Mr. Haddon-Cave,
Debate on the bill was adjourned.
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M.T.R. BILL PASSED
The Mass Transit Railway Provisional authority Bill 1974 completed
its passage in the Legislative Council today and became law.
The bill provides for the establishment of a provisional authority for the Mass Transit Railway as an interim measure, pending the creation of a statutory corporation to bring the railway into operation.
Five other bills were introduced in Council. They were: The Inland Revenue (Amendment) Bill, the Quarantine and Prevention of Discases (Amendment) Bill, the Landlord and Tenant (Consolidation) (Amendment) Bill, the Employment (Amendment) Bill, and the Workmen's Compensation (Amendment)
Bill.
Debate on the second reading of these bills was adjourned.
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