FRIDAY, AUGUST 12, 1983
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IN ADDITION, THE MTRC WILL BE ABLE TO DECLARE AND PAY DIVIDENDS, AND THE FINANCIAL SECRETARY, AFTER CONSULTATION WITH THE CORPORATION AND TAKING INTO ACCOUNT ITS LOAN OBLIGATIONS, MAY DIRECT THAT THE WHOLE OR PART OF ANY PROFITS IN ANY FINANCIAL YEAR BE PAID AS DIVIDEND INTO THE GENERAL REVENUE. IN CALCULATING SUCH PROFITS, ALLOWANCE WILL BE MADE FOR ANY SUMS EARMARKED FOR RESERVE FUNDS AND FOR ANY ACCUMULATED LOSS OF PREVIOUS YEARS.
THE SPOKESMAN POINTED OUT THAT IT WAS PROPOSED TO EMPOWER THE MTRC TO DECLARE AND PAY DIVIDENDS BECAUSE SUCH POWER COULD NOT BE INFERRED AT PRESENT, ALTHOUGH IT MIGHT BE DESIRABLE AT SOME FUTURE TIME.
THE AMENDMENT BILL IS EXPECTED TO BE INTRODUCED INTO THE LEGISLATIVE COUNCIL AT THE BEGINNING OF THE NEXT SESSION. ANYONE WHO WISHES TO COMMENT ON ITS PROVISIONS CAN WRITE TO UMELCO, AT SWIRE HOUSE, 12TH FLOOR, CHATER ROAD, OR TO THE SECRETARY FOR TRANSPORT, AT THE CENTRAL GOVERNMENT OFFICES, LOWER ALBERT ROAD, HONG KONG.
ELIGIBILITY CRITERIA FOR MELODY GARDEN FLATS RELAXED
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GOVERNMENT HAS DECIDED TO RELAX THE RULES OF ELIGIBILITY
TO PROMOTE THE SALE OF THE FLATS UNDER THE MIDDLE INCOME HOUSING SCHEME AT MELODY GARDEN, TUEN MUN.
THIS INVOLVES THE REMOVAL OF THE RESTRICTION RELATING TO FAMILY SIZE, FAMILY INCOME, OWNERSHIP OF PRIVATE RESIDENTIAL PROPERTIES AND LENGTH OF RESIDENCE IN HONG KONG."
HOWEVER, THE RESTRICTION ON RE-SALE AND THE FOLLOWING CRITERIA STILL REMAIN UNCHANGED
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APPLICANT MUST BE 21 YEARS OF AGE OR MORE;
APPLICANT MUST NOT BE A MEMBER OF ANY GOVERNMENT CO-OPERATIVE HOUSING SCHEME OR SIMILAR;
APPLICANT MUST NOT BE THE OWNER OF A HOME OWNERSHIP SCHEME OR PRIVATE SECTOR PARTICIPATION SCHEME FLATI
HOUSING AUTHORITY AND HOUSING SOCIETY TENANTS WILL BE REQUIRED TO SURRENDER THE EXISTING TENANCIES ON ACQUIRING A FLAT.
FULL DETAILS REGARDING APPLICATION PROCEDURE AND DATE OF SALE WILL BE ANNOUNCED EARLY NEXT WEEK.
COMMENTING ON THE DECISION, A GOVERNMENT SPOKESMAN SAID: +THE MIDDLE INCOME HOUSING SCHEME WAS INTRODUCED TO CATER FOR THE HOUSING NEEDS OF MIDDLE INCOME GROUPS. THE SALE OF MELODY GARDEN FLATS UNDER THIS SCHEME WAS NOT VERY SUCCESSFUL LARGELY BECAUSE THEY BECAME AVAILABLE AT A TIME WHEN THE SUPPLY OF FLATS IN THE PRIVATE SECTOR HAD INCREASED AND THERE WAS A REDUCTION OF MORTGAGE INTEREST IN THE OPEN MARKET.
HE ADDED: