XN000022-1973-11-09 — Page 3

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Friday, November 9, 1973

Mr. Edwards said:

"The measures are closely linked to the

new rent control legislation and are aimed at obtaining the best possible

use of the existing supply of domestic accommodation.

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He emphasized that the revised legislation was a deterrent measure

in that it discourages the hoarding of domestic premises for capital

appreciation or for excessively high rents."

Mr. Edwards pointed out that unoccupied non-domestic premises

would not be affected by the new measure and would continue to enjoy a

refund of half the amount paid.

"In addition, the free rates period of six months for this type

of premises in newly completed buildings remains unchanged," he added.

HIU KWONG STREET RE-OPENED

The section of Hiu Kwong Street between Block No. 13 and No. 17,

Sau Mau Ping Estate, is now re-opened to traffic following the completion

of repair work to the embankment of Hiu Kwong Street near Sau Lai Street.

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