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"This arrangement retains the priority of prospective purchasers on the original list to choose flats, and removes the additional administrative costs for developers who no longer have to offer the unsold flats by further balloting," Mr Wong said.
"I believe that these three technical adjustments will give both property developers and home buyers some flexibility in handling property transactions. The Housing Branch will monitor the impact of these adjustments, together with all other anti-speculation measures," Mr Wong said.
The Legal Advisory and Conveyancing Office will issue a circular memorandum to all practising solicitors on the above adjustments.
End
Statement by SEM on gazetting of Private Members' Bill
Commenting on the gazetting of Legislative Councillor Mr Michael Ho's Private Members' Bill on importation of labour, the Secretary for Education and Manpower, Mr Joseph W P Wong, said today (Friday) that the introduction of the Bill was totally unwarranted.
"The immediate effect of the Bill, if passed, will put an end to all importation of labour, including those required for Airport Core Programme projects, except domestic helpers. This is not acceptable to the Government and there is absolutely no indication that the community supports such a drastic action," he said,
"The Government has proposed a Supplementary Labour Scheme and will take a decision on the details very shortly. We believe that our decision will strike a fair and reasonable balance between the interests of the employees and, those of the employers, and that it will be accepted by the community at large.
"The proposed Supplementary Labour Scheme will be monitored by the Labour Advisory Board and regular reports will be submitted to the Manpower Panel of the Legislative Council. As adequate monitoring will be built into this scheme, it is totally unnecessary to introduce legislation for this purpose.