XN000022-1978-07-14 — Page 11

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FRIDAY, JULY 14, 1978

(3) MR. HUI YIN-FAT IS THE DIRECTOR OF THE HONG KONG COUNCIL OF

SOCIAL SERVICE, AND SUPERVISOR AND MANAGER OF FOUR OTHER SCHOOLS.

(4) MR. LI SZE-BAY (ALSO KNOWN AS MR. ALBERT S.B. LI) IS THE

PRINCIPAL OF THE LOK SIN TONG YU KAN HING

SCHOOL. AND MEMBER OF THE RED CROSS SCHOOL MANAGEMENT COMMITTEE.

(5) MR. YEUNG PO-KWAN IS THE PRINCIPAL OF MING YIN COLLEGE AND

MANAGER OF YING WA GIRLS SCHOOL.

NEW PROCEDURES AND COMPENSATION RATES FOR LAND RESUMED IN NT

*******

THE GOVERNMENT HAS ACCEPTED RECOMMENDATIONS MADE BY THE WORKING GROUP ON NEW TERRITORIES URBAN LAND ACQUISITION ON NEW PROCEDURES AND RATES OF PAYMENT FOR LAND RESUMED IN THE NEW TOWN AND MARKET TOWN DEVELOPMENT AREAS IN THE NEW TERRITORIES.

THE MAIN FEATURES OF THE RECOMMENDATIONS ARE:-

*

*

OWNERS OF AGRICULTURAL LAND WILL BE OFFERED COMPENSATION AT THE RATE OF $27 PER SQUARE FOOT FOR HALF THE LAND THEY SURRENDER-

FOR THE OTHER HALF, THE OWNERS WILL HAVE THE CHOICE OF EITHER $27 PER SQUARE FOOT OR THE RIGHT TO A FUTURE LAND EXCHANGE AT A RATIO OF 5:2 IN WHATEVER PROPORTION THEY DESIRE. THE CREDIT VALUE OF THE EXCHANGE ENTITLEMENT WILL BE $13.50 PER SQUARE FOOT.

* OWNERS OF BUILDING LAND WILL CONTINUE TO BE OFFERED

COMPENSATION BASED ON PROFESSIONAL VALUATION, BUT IN ADDITION WILL BE OFFERED $55 PER SQUARE FOOT OR A 1:1 EXCHANGE ENTITLEMENT.

*

THE NEW RATES FOR BOTH AGRICULTURAL AND BUILDING LOTS ARE TO BE UPDATED HALF-YEARLY BY RELATING THEM TO AN

INDEX OF AVERAGE LAND VALUES.

THE SECRETARY FOR THE NEW TERRITORIES, MR. DAVID AKERS- JONES, ANNOUNCED THE SETTING UP OF THE WORKING GROUP -- HEADED BY SIR YUET-KEUNG KAN IN THE LEGISLATIVE COUNCIL ON NOVEMBER

10 LAST YEAR.

/THE GROUP,