XN000022-1974-06-29 — Page 3

SATURDAY, JUNE 29, 1974

THE SPOKESMAN EXPLAINED THAT THE NEW TENANCY AGREEMENT WHICH THE IN-COMING SHOPKEEPER MUST SIGN WAS NO DIFFERENT AND, IN FACT, LESS STRICT THAN ANY AGREEMENT ANY LANDLORD WOULD REQUIRE OF A BONA FIDE TENANT TO ENTER INTO.

THE SPOKESMAN FURTHER EXPLAINED THAT THE NEW AGREEMENT WAS NOW MORE FAVOURABLE TO TENANTS IN THAT IT NOW HAKES SPECIFIC REFERENCE TO SUCCESSION AND INHERITANCE BY FAMILY MEMBERS.

+MOREOVER, TO ALLAY TENANTS' FEARS ABOUT THE LOSS OF SECURITY, THE NEW AGREEMENT WILL NOT BE FOR A FIXED TERM AS ORIGINALLY PROPOSED, BUT ON MONTHLY TERMS, CONTINUING IN FORCE INDEFINITELY, JUST LIKE THE OLD TENANCY CARD.+ THE SPOKESMAN ADDED.

THE SPOKESMAN RÉCALLED THAT SHOP TENANTS HAD BEEN WORRIED THAT THEY MIGHT BE EVICTED BY THE AUTHORITY AT THE END OF A FIXED TERM AGREEMENT, SO THAT THE AUTHORITY COULD RE-LET THEIR SHOPS AT A PROFIT.

+ THE NEW ARRANGEMENT,+ HE POINTED OUT, +COMPLETELY REMOVES THESE FEARS SINCE ALL THE RE-LETTING PROCEEDS WILL GO TO THE OUT-GOING TENANT.+

HE FURTHER SAID THAT RE-LETTINGS CARRIED OUT BY THE AUTHORITY SHOULD PRODUCE HIGHER BIDS FOR THE TENANCY SINCE ANYONE, NOT JUST ESTATE TENANTS, COULD BID FOR THE TENANCY.

NOTE TO EDITORS: A CHINESE TRANSLATION OF THE ABOVE IS NOW

AVAILABLE FOR YOUR COLLECTION FROM THE PRESS ROOM ON THE 6TH FLOOR OF THE GOVERNMENT INFORMATION SERVICES, BEACONSFIELD HOUSE.

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