CO129-513-4 Land leases in the new territories 8-11-1928 - 29-7-1929 — Page 46

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7.

If the proposed policy is not attractive

enough to prevent development being discouraged, it will be

necessary to reconsider the position, but if it should

then appear that the chief objection is that 75 years is

not long enough for such undertakings as docks and wharves,

perhaps terms of 99 years might be granted. One

advantage, however, of the 75 year period is that, if

granted within the next few years, the "overlapping"

portion of the term of such comparatively short duration

that a little uncertainty about it is of comparatively

less importance, and the new policy of granting leases

expressly extending beyond the period contemplated by the

Convention might be introduced quietly and gradually made

general.

8.

Another proposal was also considered, i.e., that

the Government should be prepared to grant leases for

seventy-five years from the 1st July, 1898, less the last

three days, renewable at the lessee's option on the usual

terms for a further period of seventy-five years if the

Hong Kong Government is then competent to grant such

renewal. It was urged that this proposal would have the

following advantages :-

(a) There would be no doubt as to the power of the

Government to make the grant.

(b) It would afford no ground for any propaganda.

(c) Such a lease would be of more value to the lessee

because he would have a definite right to renewal

in the event of the Hong Kong Government having

power to grant the renewal, and it is likely that

long before the end of the term the lessee would

be able to estimate the probabilities of the

Hong Kong Government having this power.

(a)