XN000022-1987-02-26 — Page 6

THURSDAY, FEBRUARY 26, 1987

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FORD EXPLAINS TIMESCALE FOR REVIEW

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THE TIMESCALE FOR CONSULTATION LEADING UP TO THE WHITE PAPER ON THE 1987 REVIEW IS GEARED TO ANY CHANGES THAT MIGHT TAKE PLACE FOR THE 1988 LEGISLATIVE COUNCIL SESSION, THE CHIEF SECRETARY, MR DAVID FORD, SAID TODAY (THURSDAY).

+WE MUST AIM FOR SOMETHING LIKE A FIVE OR SIX MONTH REVIEW PERIOD IF WE ARE GOING TO HAVE LEGISLATION IN TIME AND IN PLAGE FOR ANY CHANGES THAT MIGHT TAKE PLACE FOR THE 1988 LEGISLATIVE COUNCIL, MR FORD SAID.

SPEAKING TO REPORTERS AT RADIO TELEVISION HONG KONG AFTER A TIME CAPSULE WAS ENSHRINED THERE, MR FORD SAID HE DID NOT THINK THE CONSULTATION PERIOD COULD BE EXTENDED TO A POINT WHEREBY WE WOULD MISS ANY NECESSARY DATES+.

HOWEVER, HE SAID THERE WOULD BE SUFFICIENT TIME TO PUT THE CHANGES IN PLACE IF NECESSARY.

ASKED IF ANY DEADLINE WAS SET, THE CHIEF SECRETARY SAIDI +I DON'T THINK THERE IS A DEADLINE IN THOSE TERMS, BUT AS I'VE SAID AND AS THE ACTING GOVERNOR HAS SAID, THE KEY POINT 18 IF THERE ARE TO BE CHANGES IN THE 1988 LEGISLATIVE COUNCIL, THEN OBVIOUSLY THERE MUST BE TIME FOR THOSE TO BE BROUGHT IN, IN THE COURSE OF NEXT YEAR.

+THAT MEANS THE WHITE PAPER MUST BE PUBLISHED AROUND THE END OF THE YEAR. SO THE CONSULTATION PERIOD UP UNTIL THAT TIME IS FLEXIBLE BUT WE MUST HAVE TIME TO CONSIDER OBVIOUSLY THE VIEWS OF HONG KONG PEOPLE AND TO DRAFT THE WHITE PAPER.

+THAT IS WHY THE WHITE PAPER IS LIKELY TO BE PUBLISHED AROUND THE END OF THE YEAR, OR THE BEGINNING OF THE NEXT.+

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YEAR'S FIRST LAND AUCTIONS FETCH $44.5 MILLION

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TWO INDUSTRIAL LOTS IN THE NEW TERRITORIES WERE SOLD FOR A TOTAL OF $44.5 MILLION TODAY (THURSDAY) IN THE FIRST LAND AUCTION HELD BY THE BUILDINGS AND LANDS DEPARTMENT THIS YEAR.

A SITE AT SIU LEK YUEN, SHA TIN, MEASURING ABOUT 5 600 SQUARE METRES, WAS SOLD FOR $41 MILLION TO EASTERN ORTUNE LIMITED.

BIDDING BEGAN AT $20 MILLION. UNDER THE TERMS OF THE SALE, THE BUYER HAS TO COMPLETE AT LEAST 16 800 SQUARE METRES OF BROSS FLOOR AREA BEFORE JANUARY 31, 1991.

/THE OTHER