FRIDAY, MAY 4, 1984
THE EXISTING LEGISLATION PROVIDES FOR MINIMUM COMPENSATION, WHICH EQUALS ONE TO TWO TIMES THE RATEABLE VALUE (AS AT JUNE 10, 1983) DEPENDING ON THE LENGTH OF RESIDENCE, TO BE ORDERED BY THE LANDS TRIBUNAL TO TENANTS DISPOSSESSED BY BUILDING REDEVELOPMENT.
THE BILL PROPOSES CHANGES TO THE BASIS FOR CALCULATING
COMPENSATION BY REFERENCE TO THE SUM OF :
(A) A FIXED AMOUNT EQUAL TO TWICE THE RATEABLE VALUE AS AT JUNE 10, 1983, REGARDLESS OF THE LENGTH OF OCCUPATION BY THE TENANT; AND
(B)
AN AMOUNT TO COVER RELOCATION COSTS, INCLUDING ANY LOSS ON THE TENANT'S FITTINGS, TO BE DETERMINED BY THE LANDS TRIBUNAL IN THE EVENT OF A DISPUTE.
THIS PROVIDES A CLEAR GUIDELINE WHICH IT IS HOPED, WOULD FACILITATE AND ENCOURAGE EARLY SETTLEMENT BETWEEN LANDLORDS AND TENANTS IN REGARD TO COMPENSATION.
THE BILL ALSO PROPOSES SOME TECHNICAL AMENDMENTS TO FACILITATE ADMINISTRATION OF THE ORDINANCE. THESE INCLUDE: SIMPLIFIED REQUIREMENTS AND EXTENDED TIME LIMITS FOR SUBMISSION OF DOCUMENTS TO THE COMMISSIONER: THE IMPOSITION OF A FINE FOR FALSE STATEMENTS AND AN ADMINISTRATION FEE FOR ENDORSEMENT OF LATE NOTICES; AND, STRENGTHENING THE COMMISSIONER'S POWERS OF ENTRY TO INSPECT PREMISES FOR THE PURPOSE OF DISCHARGING HIS FUNCTIONS UNDER THE ORDINANCE.
IN EXPLAINING THE PROPOSALS EMBODIED IN THE BILL, MR LIAO REITERATED THAT THEY WERE PART OF AN ONGOING EXERCISE WITH THE
HE AGREED OBJECTIVE OF GRADUALLY PHASING OUT RENT CONTROL. EMPHASISED THAT, DESPITE THE CHANGES PROPOSED, THE MAJORITY OF CONTROLLED TENANCIES WOULD CONTINUE TO ENJOY THE PROTECTION OF THE RENT CONTROL MECHANISM WHEREBY RENT INCREASES ARE NORMALLY LIMITED TO A MAXIMUM OF 30 PER CENT OF CURRENT (CONTROLLED) RENT OVER TWO YEARS, THE EXCEPTION TO THIS RULE BEING TENANCIES HAVING VERY LOW CONTROLLED RENT WHERE THE PERMITTED INCREASE WILL BE AN AMOUNT NECESSARY TO BRING THE CURRENT RENT UP TO 45 PER CENT OF THE PREVAILING MARKET RENT.
+GIVEN THE GENERAL SOFTENING OF THE RENTAL MARKET, NOW IS THE MOST OPPORTUNE MOMENT TO CONTINUE THE PROCESS WHEN RENT
THE IMPROVING CONTROL PROTECTION IS LEAST NEEDED. FURTHERMORE ECONOMY SHOULD STIMULATE PROPERTY DEVELOPMENT AND PRODUCE MORE HOUSING FOR THE FUTURE, HE SAID.
MEMBERS OF THE PUBLIC WHO WISH TO OBTAIN MORE INFORMATION REGARDING THESE PROPOSALS CAN SEEK HELP FROM THE DISTRICT OFFICES AND THE RATING AND VALUATION DEPARTMENT.
THE WORKING OF THE LANDS TRIBUNAL HAS ALSO BEEN REVIEWED AND MINOR AMENDMENTS ARE PROPOSED TO THE LANDS TRIBUNAL (AMENDMENT) BILL 1984, THE JUDICIAL SERVICE COMMISSION (AMENDMENT) BILL 1984 AND THE STAMP DUTY (AMENDMENT) BILL 1984, ALL PUBLISHED IN THE GAZETTE TODAY.
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