XN000022-1991-07-17 — Page 14

WEDNESDAY, JULY 17, 1991

12

RENT CONTROL TO REMAIN UNTIL 1994: SHA

THE ACTING SECRETARY FOR HOME AFFAIRS, THE HON ALBERT LAM, THE LEGISLATIVE COUNCIL ΤΟ TODAY (WEDNESDAY) MOVED A RESOLUTION IN EXTEND THE LIFE OF PART II OF THE LANDLORD AND TENANT (CONSOLIDATION) ORDINANCE BY THREE YEARS.

ON

HE POINTED OUT THAT PART II OF THE ORDINANCE WHICH CONTROLLED

PREMISES WAS DUE TO EXPIRE RENT INCREASES OF CERTAIN POST-WAR DECEMBER 18 THIS YEAR.

LAM MR

SAID IF ALTHOUGH RENTS WERE REVIEWED EVERY TWO YEARS,

ALLOWED ΤΟ

ON PART II CONTROLS WERE

LAPSE

THAT DAY, TENANTS OF AFFECTED PREMISES COULD BE FACED WITH AVERAGE INCREASE OF OVER 60 PER CENT IN 1992 AND 1993.

"SUCH INCREASES ARE CONSIDERED EXCESSIVE AND SOCIALLY UNACCEPTABLE,' HE EMPHASISED.

AND FOR THIS REASON, MR LAM UNDER PART II TO UNTIL DECEMBER 1994.

PROPOSED EXTENDING

RENT CONTROL

GOVERNMENT HOWEVER, HE ALSO STRESSED THAT

TO PHASING OUT RENT CONTROLS PROVIDED WITHOUT ADVERSE SOCIAL CONSEQUENCES.

REMAINED COMMITTED THAT THIS COULD BR ACHIEVED

LEGISLATION HAD BEEN TO MARKET

EARLIER, MR LAM EXPLAINED THAT AMENDING PASSED BY THE LEGISLATIVE COUNCIL EACH YEAR SINCE 1981 WITH A VIEW BRINGING CONTROLLED RENTS PROGRESSIVELY CLOSER TO PREVAILING RATES AND EVENTUALLY TO ALLOW FOR DECONTROL.

PURSUIT HE SAID IN

EVENTUAL APPROPRIATE

DECONTROL, GREAT CARE HAD PERIOD FOR EXTENDING PART II.

OF GOVERNMENT'S BEEN

ΤΟ TAKEN

ΤΟ COMMITMENT DETERMINE AN

BEING

FORMULATED

"TENTATIVELY, PROPOSALS ARE

END OF

RELEVANT CONTROL MECHANISM TO ALLOW PART 11 RENTS TO RISE 10 PER CENT OF THE PREVAILING MARKET RENTS BY THE LAM SAID.

ΤΟ

ADJUST THE TO WITHIN 1994,

††

MR

TENURE AND COMPLETED 1983, AND IN $30,000

OF PART II OF THE ORDINANCE PROVIDES FOR SECURITY

PREMISES CONTROLS INCREASES IN RENT IN RESPECT OF DOMESTIC

BEFORE JUNE 10. BEFORE JUNE 19, 1981, TENANCIES CREATED TENANCIES OF PREMISES WITH A RATEABLE VALUE OF LESS 1983.

1

1991. THERE

NUMBER

THAN

WERE ABOUT 43,000 WAS DIMINISHING AT

THEIR OWNERS,

MR LAM SAID AS AT JANUARY I UNITS PROTECTED BY PART 11 BUT THAT THIS THE RATE OF 5,000 UNITS A YEAR THROUGH REPOSSESSION BY LET OUT AT MARKET RENTAL RATES, OR DEMOLISHED FOR REDEVELOPMENT.

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