FRIDAY, JULY 29, 1983
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BILL TO IMPROVE CONVEYANCING SYSTEM
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A BILL WHICH SEEKS TO IMPROVE THE SYSTEM OF CONVEYANCING IN HONG KONG IS PUBLISHED IN THE GOVERNMENT GAZETTE TODAY (FRIDAY).
UNDER THE CONVEYANCING AND PROPERTY BILL 1983, THE LAWS ON IMMOVABLE PROPERTY AND CONVEYANCING WILL BE BROUGHT IN LINE WITH THE RAPID DEVELOPMENT OF HONG KONG AS A MODERN FINANCIAL AND INVESTMENT CENTRE, A SPOKESMAN FOR THE REGISTRAR GENERAL'S DEPARTMENT SAID.
THE BILL PROPOSES TO ACHIEVE THIS OBJECTIVE BY:
* REVISING AND CONSOLIDATING VARIOUS ORDINANCES RELATING
TO LAND;
*
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INCORPORATING SELECTED PROVISIONS OF THE UNITED KINGDOM LAW OF PROPERTY ACT 1925;
INTRODUCING IMPLIED COVENANTS FOR TITLE:
* PROVIDING OTHER STANDARD COVENANTS AND CONDITIONS WHICH
MAY BE INCORPORATED INTO CONVEYANCING DOCUMENTS BY REFERENCE;
* PROVIDING STANDARD FORMS OF CONVEYANCING INSTRUMENTS
SUITABLE FOR USE IN HONG KONG ;
*
INTRODUCING A NEW SYSTEM OF MORTGAGING BY WAY OF LEGAL AND EQUITABLE CHARGE INSTEAD OF BY WAY OF ASSIGNMENT; AND
* INTRODUCING OTHER PROVISIONS TO CLARIFY AND AUGMENT
THE LAW AND SIMPLIFY DEALINGS IN LAND.
+ INTERESTED PERSONS AND ORGANISATIONS CAN DIRECT ANY COMMENTS AND SUGGESTIONS ON THE BILL TO THE REGISTRAR GENERAL FOR CONSIDERATION WITHIN THREE MONTHS OF ITS PUBLICATION, + THE SPOKESMAN SAID.
AFTER THIS PERIOD, THE BILL WITH ANY PROPOSED AMENDMENTS WILL BE REFERRED BACK TO THE EXECUTIVE COUNCIL FOR FURTHER CONSIDERATION BEFORE ITS INTRODUCTION INTO THE LEGISLATIVE COUNCIL LATER THIS YEAR, HE ADDED.
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