XN000022-1983-05-25 — Page 19

17

WEDNESDAY, MAY 25, 1983

CALCULATION OF PREMIUM FOR MODIFICATION

*****

THE PREMIUM FOR MODIFICATION OF THE NON-ASSIGNMENT CLAUSE IN SMALL HOUSE GRANTS IN THE NEW TERRITORIES IS CALCULATED BY TAKING THE DIFFERENCE IN LAND VALUE BETWEEN A LOT WHICH IS PERMITTED TO BE ASSIGNED AND A LOT WHICH IS NOT PERMITTED TO BE ASSIGNED, THE ACTING SECRETARY FOR LANDS AND WORKS, THE HON CHAN NAI-KEONG TOLD THE LEGISLATIVE COUNCIL TODAY,

REPLYING TO A QUESTION BY THE HON HARRY FANG, MR CHAN SAID THAT TO ENABLE PREMIA IN INDIVIDUAL CASES TO BE READILY ASSESSED A SCHEDULE OF STANDARD PREMIUM RATES FOR DIFFERENT LOCATIONS WAS ISSUED BY THE LANDS DEPARTMENT AND REVISED PERIODICALLY TO TAKE ACCOUNT OF CHANGES IN LAND VALUE.

TURNING TO ANOTHER QUESTION ON THE SAME SUBJECT MR CHAN SAID THE REDUCTION OF 10 PER CENT IN THE PREMIUM RATES SINCE NOVEMBER 1982 REPRESENTED THE ASSESSED DECLINE IN THAT SECTOR OF THE PROPERTY MARKET OVER THE PERIOD NOVEMBER 1982 TO APRIL 1983.

+THE REDUCTION OF 30 PER CENT IN THE RATES SET IN NOVEMBER 1982 SHOWED THE RELATIVELY SHARP DECLINE IN THE MARKET WHICH OCCURRED DURING THE PREVIOUS MONTHS, HE SAID.

IN REPLY TO A QUESTION BY THE HON F.K. HU ON WHETHER GOVERNMENT WOULD CONSIDER SETTING UP AN APPELLATE BODY TO REVIEW PREMIA ASSESSMENTS FOR THE RE-GRANT OF LEASES AND MODIFICATIONS ARISING FROM ZONING CHANGES, MR CHAN SAID THAT A PROPOSAL TO SET UP SUCH AN APPELLATE BODY HAD RECENTLY BEEN DISCUSSED IN THE REAL ESTATE DEVELOPMENT SUB-COMMITTEE OF THE BUILDING DEVELOPMENT ADVISORY COMMITTEE AND GOVERNMENT HAD UNDERTAKEN TO CONSIDER THE NEED FOR ADDITIONAL APPEAL PROCEDURES.

+THE STUDY IS NOW IN HAND AND A PAPER ON THE SUBJECT WILL BE PUT TO THE JULY MEETING OF THE SUB-COMMITTEE FOR FURTHER DISCUSSION, HE ADDED.

UNIFORM BASIS FOR APPEALS WELCOMED

****

THE PROVISION OF A UNIFORM BASIS FOR APPEALS UNDER THE LANDS TRIBUNAL (AMENDMENT) BILL 1983 WOULD BE WIDELY WELCOMED BY LEGAL PRACTITIONERS, THE HON PETER C. WONG TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

SPEAKING IN SUPPORT OF THE MOTION, HE SAID THE PROVISION WAS AMONG AMENDMENTS OF A TECHNICAL NATURE.

MR WONG IS THE CONVENER OF THE AD HOC GROUP OF 12 UNOFFICIAL MEMBERS CONSIDERING THE LANDS TRIBUNAL (AMENDMENT) BILL 1983 AND THE LANDLORD AND TENANT (CONSOLIDATION) (AMENDMENT) BILL 1983.

/SINCE 1982,