XN000022-1975-06-27 — Page 14

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FRIDAY, JUNE 27, 1975

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STRICTER CONTROL ON SALES OF FLATS

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THE GOVERNMENT TODAY ANNOUNCED LEGISLATION TO GIVE IMPROVED PROTECTION TO PURCHASERS OF FLATS IN UNCOMPLETED BUILDINGS.

THE NEW MEASURES ARE OUTLINED IN THE LANDLORD AND TENANT (CONSOLIDATION) (AMENDMENT) (NO. 3) BILL 1975 PUBLISHED IN TODAY'S GAZETTE.

A GOVERNMENT SPOKESMAN EXPLAINED TODAY THAT SINCE 1961 EXCLUSION ORDERS GRANTED UNDER THE LANDLORD AND TENANT (CONSOLIDATION) ORDINANCE HAVE PROHIBITED SALES OF FLATS IN UNCOMPLETED BUILDINGS WITHOUT THE CONSENT OF THE LAND OFFICER.

IN GRANTING CONSENT, THE LAND OFFICER IMPOSES CONDITIONS FOR THE PROTECTION OF THE FLAT PURCHASERS, HE SAID.

+RECENTLY, A SMALL NUMBER OF DEVELOPERS HAVE TRIED TO EVADE THE RESTRICTIONS BY ENTERING INTO AGREEMENTS TO SELL FLATS IN THE PROPOSED NEW BUILDING BEFORE APPLYING FOR AN EXCLUSION ORDER, WHICH REQUIRES SALES OF FLATS TO HAVE THE CONSENT OF THE LAND OFFICER, THE SPOKESMAN ADDED.

+ IF THE BILL IS ENACTED, THIS LOOPHOLE WILL BE CLOSED.

+ IF ANY DEVELOPER THEN ADOPTS THE SAME DEVICE, HIS LOT

WILL BECOME LIABLE TO RE-ENTRY BY THE CROWN.

+IN THAT EVENT THE INTENDED PURCHASERS OF THE FLATS WILL BE ENTITLED TO RECOVER FROM THE DEVELOPER ANY ADVANCE PAYMENTS THAT THEY MIGHT HAVE MADE.+

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