XN000022-1973-12-12 — Page 8

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Wednesday, December 12, 1973

NEW RENT BILL COMES INTO FORCE ON SATURDAY

The Landlord and Tenant (Consolidation) (Amendment) (No. 2) Bill

1973 passed its third and final reading in the Legislative Council today

with a number of amendments.

The Bill, which comes into effect from Saturday (December 15);

will enable landlord and tenants to freely negotiate any increase in

renta by agreement at any time. Otherwise, the landlord is only peraltted

to increase the rent by a fair amount not exceeding 21 per sent over a

two-year period.

One of the amendments, moved by the Hon. P.C. Woo on behalf of

the Unofficials, will exempt those flats with an annual rateable value

of more than 330,000 from the 21 per cent limitation.

He said the method of ascertaining the rateable value would be

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prescribed in a new, sub-section of the bill.

The effect will be that the landlords of such flats will be

able to raise their rents by 1/5 of the difference between current rental

now being paid and the fair market rent.

Th

He pointed out that only about 1,500 tenants in the luxury bracket would be affected by this change. Another 1,500 such flats were owner-occupied

and hence not at present affected.

Other amendments included:

A new section enabling the court to make an order for possession where the sub-tenant as wall as the tenant has caused unnecessary annoyance.

A new ..