XN000022-1987-10-23 — Page 14

FRIDAY, OCTOBER 23, 1987

13

FOR ENQUIRIES ABOUT THE INDICES, PLEASE TELEPHONE THE CONSUMER

PRICE INDEX SECTION OF THE CENSUS AND STATISTICS DEPARTMENT ON

5-8235089.

THE HANG SENG CONSUMER PRICE INDEX WAS 114.2 IN SEPTEMBER 1987, UP BY 1.0 PER CENT OVER AUGUST 1987 AND UP BY 6.9 PER CENT OVER SEPTEMBER 1986. THE HANG SENG CONSUMER PRICE INDEX IS BASED ON THE EXPENDITURE PATTERN OF THE 10 PER CENT of URBAN HOUSEHOLDS IN HONG KONG THAT SPENT HK$10,000 24,999 A MONTH DURING THE 1984/85 HOUSEHOLD EXPENDITURE SURVEY. FURTHER DETAILS REGARDING THIS INDEX ARE INCLUDED IN THE HANG SENG CONSUMER PRICE INDEX REPORT ISSUED BY THE ECONOMIC RESEARCH DEPARTMENT OF HANG SENG BANK LTD.

AMENDMENTS TO CONVEYANCING LAW PROPOSED

*

AMENDMENTS INTENDED TO CLARIFY AND IMPROVE FURTHER THE LAW RELATING TO CONVEYANCING AND REAL PROPERTY ARE CONTAINED IN A BILL THAT WAS GAZETTED TODAY (FRIDAY).

THE AMENDMENTS, WHICH ARE TECHNICAL IN NATURE, ARE CONTAINED IN THE CONVEYANCING AND PROPERTY (AMENDMENT) BILL 1987.

THEY ARE AIMED AT REFINING ORDINANCE WHICH WAS ENACTED IN 1984.

THE ORDINANCE UPDATED AND CONVEYANCING AND REAL PROPERTY, AND HAS POINTED TO CERTAIN AREAS WHERE IMPROVED.

THE CONVEYANCING AND PROPERTY

CONSOLIDATED THE LAW CONCERNING EXPERIENCE SINCE ITS ENACTMENT ITS PROVISIONS CAN BE FURTHER

"THE AMENDMENTS PROPOSED ARE NOT SUBSTANTIAL OR RADICAL, A SPOKESMAN FOR THE REGISTRAR GENERAL'S DEPARTMENT SAID.

ONE OF THE MAIN CHANGES CONCERNS THE LENGTH OF TIME FOR WHICH A VENDOR OF LAND HAS TO PRODUCE DOCUMENTARY EVIDENCE, SUCH AS THE CROWN LEASE AND OTHER ITEMS, TO PROVE HIS TITLE TO THE PROPERTY.

AT PRESENT A VENDOR USUALLY HAS TO PRODUCE DOCUMENTS FOR A PERIOD OF 25 YEARS, AND IT IS NOW PROPOSED TO REDUCE THIS TO 15 YEARS,

THE AMENDMENT BILL HAS BEEN DRAWN UP FOLLOWING THE DELIBERATIONS BY A RECONSTITUTED CONVEYANCING AND PROPERTY LAW WORKING GROUP. THE WORKING GROUP HAD ORIGINALLY RECOMMENDED PROVISIONS IN THE 1984 ORDINANCE.

THE

THE BILL WILL BE INTRODUCED INTO THE LEGISLATIVE

SHORTLY.

/14

COUNCIL