CO129-604-1 Crown Leases 26-6-1946 - 5-9-1947 — Page 16

54053/46

Code

OUTWARD

TELEGRAM

16

TO HONG KONG (Sir M. Young)

FROM S. OF S., COLONIES.

sent 22nd August, 1946. 18.20 hrs.

IMPORTANYE

No. 732 Confidential.

Your confidentiel despašek 26th June 0.A. A. 694/45. Crown Le9838.

I appreciate decirability in the interests of getting people to renew their leases and undertake new development or re-development of making concession included in stetement of polley as outlined in enclosure to your despatch and I accordingly give my covering approval for adoption of that policy. I should, however, wish to ba consulted beforehand 17 there is any question of extending the period of one year during which grown rent is to be re-asssssed in accordance with the coals applicable to the locality in the pasted iwmodiately before the outbreak of the Pecifio Var and the renswal premium is to be based on land values in locality during that periode It should be possible next yaar to arrive at some idee of current values and to revert to those values as the proper basic on which to fix the termS of renewal,