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Reply:
(a)
(b)
(c)
(a)
the Deed was jointly drawn up by the Chinese and British Governments; if so, of the principles based on which the Deed was drawn up. If not, why not;
the Government has assessed the amount of expenses required for taking over the existing Land Fund Secretariat and its staff; if so, what the estimated annual expenditure is; and
the Government has assessed the amount of expenses involved in disbanding the Land Fund Secretariat and its staff; if so, what the estimated amount is and whether the amount will be deducted from the Land Fund?
(b) and (c)
The Deed of Declaration of Trust (the Trust Deed) for the establishment of the Hong Kong Special Administrative Region Government Land Fund was made by the trustees of the Fund, who are duly authorised by the Government of the People's Republic of China to receive and hold upon trust all monies paid or to be paid into the Fund, and to make provision for the proper management and preservation of the value of the Fund. The Deed was drawn up in accordance with Annex III to the Sino-British Joint Declaration and the agreements of the Sino-British Land Commission.
There should be appropriate arrangements for dealing with the existing staff of the current Land Fund Secretariat after the transition and the transfer of the assets of the Land Fund to the Hong Kong Special Administrative Region Government (HKSARG). This is a matter to be addressed by the Land Fund Secretariat, the trustees and the HKSARG. We have therefore not made any assessment on the expenses which might be required for taking over or disbanding the Secretariat and its staff.
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