XN000022-1978-04-26 — Page 42

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WEDNESDAY, APRIL 26, 1978

LAND REGISTRATION

AMENDMENT) BILL 1978

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THE LAND REGISTRATION (AMENDMENT) BILL 1978 WAS INTRODUCED IN THE LEGISLATIVE COUNCIL TODAY TO BRING IN CERTAIN AMENDMENTS TO THE PRINCIPAL ORDINANCE IN RESPECT OF PRIORITY IN THE REGISTRATION OF DOCUMENTS.

MOVING THE SECOND READING OF THE BILL, THE SECRETARY FOR THE ENVIRONMENT, THE HON. DEREK JONES, SAID ONE OF THE AMENDMENTS PROVIDES A UNIFORM PERIOD OF ONE MONTH FROM THE TIME OF EXECUTION OF A DOCUMENT FOR REGISTRATION UNDER THE RELEVANT PROVISIONS OF THE ORDINANCE, WHETHER SUCH DOCUMENT IS EXECUTED IN HONG KONG OR ELSEWHERE.

HE SAID AT PRESENT DOCUMENTS EXECUTED OUTSIDE HONG KONG WERE GIVEN A PERIOD OF 12 MONTHS IN WHICH THEY SHOULD BE REGISTERED IF THEY WERE TO SECURE STATUTORY PRIORITY.

+THIS PROVISION DATES APPARENTLY FROM THE DAYS OF SAILING SHIPS AND THE CONTINUANCE OF THE DIFFERENTIAL IS CLEARLY UNNECESSARY IN THE AGE OF JET AIRCRAFT.+

ANOTHER AMENDMENT, MR. JONES SAID, PROVIDES FOR THE PRIORITY OF PENDING ACTIONS AND CHARGING ORDERS TO COMMENCE FROM THE DAY FOLLOWING THE DATE OF THEIR ACTUAL REGISTRATION RATHER THAN THE DATE OF THE DOCUMENT ITSELF.

+AT PRESENT, IF A PERSON RELIES UPON A CLEAR TITLE SHOWN ON THE REGISTER AND PURCHASES A PROPERTY ON THE STRENGTH OF THAT CLEAR TITLE, HE CAN STILL BE DEFEATED IF A WRIT IS ISSUED OR A CHARGING ORDER OBTAINED WHICH, ALTHOUGH NOT REGISTERED AT THE TIME OF THE COMPLETION OF THE PURCHASE, IS STILL REGISTERED WITHIN THE STATUTORY PERIOD OF ONE MONTH, MR. JONES SAID.

+ THE PROPOSED AMENDMENT. BY ACCORDING PRIORITY FROM THE DATE FOLLOWING ACTUAL REGISTRATION, ENSURES THAT, AS FAR AS THESE TWO CLASSES OF DOCUMENTS ARE CONCERNED, A PURCHASER OF PROPERTY WILL BE ABLE TO RELY UPON A CLEAR TITLE SHOWN ON THE REGISTER, HE ADDED,

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