WEDNESDAY, OCTOBER 21, 1992
14
TWENTY-SEVEN CO-OPERATIVE BUILDING SOCIETIES DISSOLVED
* * *
TWENTY-SEVEN SOCIETIES UNDER THE CIVIL SERVANT CO-OPERATIVE BUILDING SCHEME HAVE BEEN DISSOLVED RESULTING IN THE TITLES OF 459 FLATS BEING TRANSFERRED TO INDIVIDUAL MEMBERS.
THE
OF THESE FLATS, 66 HAVE BEEN SOLD IN THE OPEN MARKET FOLLOWING PAYMENT OF A LAND PREMIUM TO REMOVE THE ALIENATION RESTRICTION IN TITLE.
AND SO FAR ONLY ONE APPLICATION FOR REDEVELOPMENT OF ONE INVOLVING 20 FLATS HAS BEEN RECEIVED BY THE DIRECTOR OF BUILDINGS LANDS.
SITE
AND
THE
IN A WRITTEN REPLY TO A QUESTION BY THE HON J D MCGREGOR IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY), ACTING SECRETARY FOR CIVIL
THE SERVICE, MR STUART HARBINSON, EXPLAINED THAT
MODIFICATION PREMIUM WAS DETERMINED ON THE STANDARD BASIS OF THE DIFFERENCE BETWEEN
MARKET VALUE AND THE ASSESSED MARKET VALUE OF THE SITE PRESENT RESULT OF MODIFICATION TO THE PERMITTED DEVELOPMENT POTENTIAL.
AS
A
OF
"SINCE THE SOLE APPLICATION FOR REDEVELOPMENT IS STILL BEING
IT
THE POSSESSED,
IS NOT POSSIBLE TO PROVIDE DETAILS ON
AMOUNT PREMIUM AND AVERAGE RATE PER SQUARE METER AT THIS STAGE,
HE ADDED.
OF HAD BEEN
THE
MR HARBINSON ALSO SAID SINCE THE INTRODUCTION CO-OPERATIVE BUILDING SOCIETY SCHEME IN 1952, 238 SOCIETIES FORMED PROVIDING A TOTAL OF 5,702 FLATS.
0
SUBVENTION TO ESF USED TO MEET TEACHER SALARIES
THE PAYMENT MADE TO THE CHIEF EXECUTIVE AND SECRETARY OF ENGLISH SCHOOLS FOUNDATION (ESF) IS MET BY THE FOUNDATION ITSELF, SECRETARY FOR EDUCATION AND MANPOWER, MR JOHN CHAN, SAID.
THE THE
HE SAID THE PAYMENT WAS MADE AS A SETTLEMENT BETWEEN THE ESF AND ONE OF ITS EMPLOYEES AND THE REASONS FOR THE LEVEL OF PAYOUT WERE ALREADY ANNOUNCED BY THE CHAIRMAN OF THE FOUNDATION ON SEPTEMBER 16.
IN A WRITTEN REPLY TO A QUESTION BY THE HON EMILY LAU WAI-HING IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY), MR CHAN EXPLAINED THAT IT HAD BEEN A LONG ESTABLISHED ARRANGEMENT FOR THE GOVERNMENT SUBVENTION TO THE ESF TO GO TOWARDS MEETING TEACHER SALARIES ONLY.
"CENTRAL ADMINISTRATION EXPENSES, INCLUDING THE PAYMENT MADE TO THE CHIEF EXECUTIVE AND SECRETARY REFERRED TO IN THE QUESTION, ARE MET BY THE FOUNDATION ITSELF, HE SAID.
++
MR CHAN ADDED THAT ALTHOUGH THE ESF WAS A STATUTORY BODY WHICH REGULATED ITSELF, THE EDUCATION DEPARTMENT EXAMINED ITS ANNUAL AUDITED ACCOUNTS TO ENSURE THAT THE GOVERNMENT SUBSIDY WAS PROPERLY SPENT.
0
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