XN000022-1992-06-03 — Page 9

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WEDNESDAY, JUNE 3, 1992

BUT MR SUEN DID ACKNOWLEDGE THAT THE PROPERTY MARKET COULD BE

VOLATILE.

"FOR THIS REASON, WE HAVE INCLUDED IN THE BILL PROVISIONS TO ADJUST BOTH THE LEVELS OF INCREASES AND THEIR TIME FRAME SO AS то MINIMISE THE IMPACT OF ANY UNFORESEEN CIRCUMSTANCES RESULTING FROM THE ADVERSE MARKET FORCES WHICH MAY REQUIRE INTERVENTION.

"WE WILL BE MONITORING THE SITUATION CONTINUOUSLY CAREFULLY, HE SAID.

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AND

WITH REGARD TO THE STATUTORY COMPENSATION PAYABLE TO THOSE TENANTS DISPOSSESSED BY REDEVELOPMENT, HE SAID IT WAS ACCEPTED THAT A CURRENT RATE OF TWICE THE 1983 RATEABLE VALUE OF THE PROPERTY PLUS REMOVAL EXPENDITURE AND RECOMPENSE FOR FITTINGS WAS "OUTDATED AND INADEQUATE".

PROPOSED TO AMEND

IN THIS CONNECTION, MR SUEN SAID, THE BILL THE STATUTORY BASIS FOR COMPENSATION TO A MULTIPLE OF 1.3 OF THE CURRENT RATEABLE VALUE.

THIS WOULD ROUGHLY DOUBLE THE LEVEL OF STATUTORY COMPENSATION AND ALLOW A DISPOSSESSED TENANT то RENT SIMILAR ACCOMMODATION FOR ABOUT SIX MONTHS.

AT PRESENT, THERE ARE 38,500 POST-WAR UNITS UNDER RENT CONTROL. HOWEVER, THIS FIGURE IS DIMINISHING AT THE RATE OF 5,000 A YEAR.

HE ALSO SAID BY RESTORING RENTS ΤΟ MARKET LEVELS, IT WOULD PROVIDE INCENTIVES TO LANDLORDS TO UNDERTAKE A MORE ACTIVE ROLE IN REFURBISHING AND MAINTAINING THEIR PROPERTIES.

LINGNAN TO BE CONFERRED TERTIARY STATUS

LINGNAN COLLEGE WHICH HAS BEEN FUNDED BY THE UNIVERSITY AND POLYTECHNIC GRANTS COMMITTEE (UPGC) SINCE LAST JULY, PLANS TO PROVIDE 2,000 STUDENT PLACES INCLUDING 690 FIRST-YEAR, FIRST-DEGREE PLACES BY 1994-95.

THIS FOLLOWS THE RECOMMENDATION OF UPGC TO UPGRADE THE ΤΟ A DEGREE-GRANTING INSTITUTION IN THE CONTEXT OF THE TERTIARY EXPANSION PROGRAMME TO PROVIDE FYFD PLACES FOR 18% RELEVANT AGE GROUP BY 1994-95.

(FYFD)

COLLEGE

CURRENT

OF THE

FUNCTIONS

A BILL THAT SEEKS TO PROVIDE FOR THE ESTABLISHMENT, AND GOVERNANCE OF THE COLLEGE AS A DEGREE-AWARDING BODY WAS INTRODUCED TO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

MOVING THE SECOND READING OF LINGNAN COLLEGE BILL, THE SECRETARY FOR EDUCATION AND MANPOWER, MR JOHN CHAN, SAID IT PROVIDED THE COLLEGE WITH A NEW FORM OF GOVERNANCE COMMENSURATE WITH ITS STATUS AS A PUBLICLY-FUNDED TERTIARY INSTITUTION.

/UNDER THE