FRIDAY, MAY 31, 1991
1
AMENDMENTS TO DEEDS OF MUTUAL COVENANT PROPOSED
IN
CONSIDERED "UNFAIR" CLAUSES PROPOSALS TO REMOVE WHAT ARE
THE GOVERNMENT DEEDS OF MUTUAL COVENANT (DMC) HAVE BEEN PUBLISHED IN GAZETTE IN THE FORM OF A WHITE BILL FOR PUBLIC CONSULTATION.
VIEWS
MONTHS TO GIVE THEIR BUILDINGS (OWNERS THE CITY AND
"MEMBERS OF THE PUBLIC WILL HAVE THREE
AND
ON THE COMMENTS
MULTI-STOREY INCORPORATION) (AMENDMENT) BIL 1991," A SPOKESMAN FOR NEW TERRITORIES ADMINISTRATION SAID TODAY (FRIDAY).
OF THE PROPOSED AMENDMENTS ARE
ACROSS-THE-BOARD AS THEY WILL APPLY NOTED.
"THIS ROUND OF PUBLIC CONSULTATION 18
*HIGHLY CONTROVERSIAL
THE DMC'S,
NECESSARY
BECAUSE SOME
PARTICULARLY
J
T
TO ALL
SPOKESMAN
THE
BILL CONTAINS
SOME MANADTORY TERMS
PREVAIL
OVER
ANY
OTHER
WHICH
DEED
SHALL FUTURE,
THAT
BE
AND
IS
IMPLJEDLY INCORPORATED INTO EVERY DMC, BOTH EXISTING AND
PROVISION IN THE SHALL
· INCONSISTENT WITH THEN,
TERMS, MANADTORY OUTI, INING THESE
THAT'
THE SPOKESMAN NOTED
NOT LESS "THAN THERE IS ONE ENABLING THE FLAT OWNERS, BY THE VOTE OF
ΤΟ TERMINATE THE TWO-THIRDS OF THE UNDIVIDED SHARES IN THE BUILDING, TO
HIM NOT LESS THAN THREE MONTHS' MANAGER'S APPOINTMENT BY NOTICE.
GIVING
"NO BEFORE THE
MANAGER'S
END
++
APPOINTMENT
MAY.
HOWEVER,
THE
BE SO COMMENCEMENT
OF ONE YEAR AFTER LEGISLATION, HE ADDED.
TERMINATED
OF THIS
TO REMOVE THE APPOINTED MORE OR
"THE PRIMARY PURPOSE OF THIS MANDATORY TERM IS INFAIRNESS IN CERTAIN DMC'S THAT THE MANAGERS ARE LESS IN PERPETUITY.
"IF THEY
TURN
OUT TO
IS BE UNSATISFACTORY,
THEM REMOVED, THE IMPOSSIBLE FOR THE FLAT OWNERS TO GET VAID.
IT
++
A IRTUALLY SPOKESMAN
AIMING то MORE RESPONSIBLE FOR THE MAINTENANCE OF FUNDS
THERE ARE ALSO PROVISIONS
REQUIRING
MAKE BUILDING MANAGERS AND KEEPING OF ACCOUNTS.
A MANAGER
THEY INCLUDE A PROVISION BUDGET AFTER CONSULTING THE OWNERS UPON A DRAFT BUDGET.
TO PREPARE A
AUDGFT, THEN, INTEL SUCH THE BUDGET SHALL BE AMOUNT NOT SUCI
IF THE OWNERS DECIDE TO REJECT THE TIME A REVISED BUDGET IS PREPARED AND ACCEPTED,
FINANCIAL YEAR, PLUS THE SAME AS IN THE PREALOUS. EXCEEDING 10 PER CENT AS THE MANAGER MAY DETERMINE.
ANOTHER IMPORTANT PROVISION CONCERNS THE ESTABLISH OWNERS' CORPORATION.
RIGHT OF OWNERS TO
/THE BILL