XN000022-1993-06-30 — Page 51

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USES OF RESUMED LAND

WEDNESDAY, JUNE 30, 1993

LAND IS RESUMED FOR A PUBLIC PURPOSE WHICH MAY INCLUDE A NUMBER OF USES SUCH AS ROADS, SEWAGE TREATMENT PLANTS, PUBLIC HOUSING, PUBLIC HOSPITALS AND SCHOOLS.

THIS WAS STATED BY THE ACTING SECRETARY FOR PLANNING, ENVIRONMENT AND LANDS, MR CANICE MAK, IN A WRITTEN REPLY TO A QUESTION BY THE HON LAU WONG-FAT IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

MR MAK SAID LAND FORMATION AND SERVICING WAS NECESSARY IN CASES BEFORE IT COULD BE USED FOR THE INTENDED PURPOSE.

MOST

A SITE RESUMED MAY BE AMALGAMATED WITH EITHER RESUMED SITRA GOVERNMENT LAND BEFORE BEING ALLOCATED OR DISPOSED OF.

OR

IT MAY BE CARVED UP WITH DIFFERENT PARTS BEING USED FOR DIFFERENT PURPOSES.

"IT WOULD THEREFORE BE ALMOST IMPOSSIBLE AND DEFINITELY VERY RESOURCE INTENSIVE AND TIME-CONSUMING TO IDENTIFY THAT PART OF THE LAND RESUMED WHICH HAS SUBSEQUENTLY BEEN SOLD AND THE PRICE AT WHICH THAT PARTICULAR PART HAS BEEN SOLD, MR MAK SAID.

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NO FOREIGN EXCHANGE CONTROL IN HK

HONG KONG DOES NOT HAVE FOREIGN EXCHANGE CONTROL OF ANY FORM, AND THERE IS NO STATUTE WHICH SEEKS TO REGULATE THE EXCHANGE OF FOREIGN CURRENCY, THE SECRETARY FOR FINANCIAL SERVICES, MR MICHAEL CARTLAND, SAID TODAY (WEDNESDAY) IN THE LEGISLATIVE COUNCIL.

SIU-TONG,

IN A WRITTEN REPLY TO A QUESTION BY DR THE HON TANG MR CARTLAND SAID THERE WAS NO PROHIBITION ON THE USE OF FOREIGN CURRENCIES IN CASH PAYMENTS IN THE TERRITORY.

"SHOPS IN

HONG KONG CAN ACCEPT PAYMENTS IN RENMINBI, OR ANY OTHER FOREIGN CURRENCIES, IF THEY WISH TO AND ARE HAPPY WITH THE EXCHANGE RISKS THAT ARE INCURRED.

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**WE DO NOT BELIEVE THAT THE ACCEPTANCE OF CASH PAYMENT'S IN RENMINBI BY SOME SHOPS WOULD BECOME WIDESPREAD ENOUGH TO HAVE ANY SIGNIFICANT EFFECT ON THE MONETARY SYSTEM OF HONG KONG," HE ADDED.

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