XN000022-1993-11-15 — Page 3

2

MONDAY, NOVEMBER 15, 1993

ΤΟ HAVE

THE

EXISTING

EXPLAINING THE NERD FOR THE PROPOSED NEW LEGISLATION RETROSPECTIVE EFFECT (FROM THE DATE OF THE RELEVANT LAND GRANT), SPOKESMAN SAID THIS WAS NECESSARY TO REMOVE ANY DOUBT ABOUT TITLES то LAND OR PROPERTY IN THE NT WHICH MAY HAVE FROM A VENDOR WHO ACQUIRED THE PROPERTY BY REGISTRATION LETTERS OF ADMINISTRATION OR CUSTOMARY SUCCESSION OWNER.

BEEN PURCHASED OF PROBATE, FROM A DECEASED

POSITION

OF

"THERE IS GENERAL UNCERTAINTY OF WHAT THE TRUE LEGAL MAY BE.

THIS IS BECAUSE MOST PEOPLE ASSUME THAT THE GENERAL LAWS HONG KONG WOULD APPLY TO THEIR PROPERTIES IN THE NT WHETHER THEY TESTATE OR INTESTATE.

DIE

ON INTESTACY "PROBATE OF WILLS OR LETTERS OF ADMINISTRATION HAVE BEEN OBTAINED AND CONVEYANCING CARRIED OUT ON THE ASSUMPTION THAT OF HONG THE GENERAL LAWS, INCLUDING THE LAWS OF SUCCESSION TO LAND, KONG APPLY.

**

FUTURE BE

"UNLESS STEPS ARE TAKEN TO VALIDATE THESE CONVEYANCES, POTENTIAL PURCHASERS MAY ATTEMPT TO EXPLOIT ANY DEFECTS THERE MAY IN THEIR TITLE TO AVOID THE PURCHASE CONTRACT," HE POINTED OUT.

OF

THE BILL ALSO CONTAINS PROVISIONS TO FACILITATE THOSE OWNERS OF

WHO RURAL LAND

WISH

EFFECT OF TO AVOID THE

CUSTOMARY RULES SUCCESSION ON THEIR PROPERTY BY PROVIDING FOR THE EXEMPTION OF INCLUDING UNDIVIDED SHARES, FROM THE APPLICATION OF PART II

APPLICATION NTO,

THE DIRECTOR OF LANDS UPON CONCERNED BY A SIMPLE AND INEXPENSIVE PROCEDURE.

BY

THE

OF THE

EXISTING

LAND,

OF THE LANDOWNER

PROCEDURE WHICH

THIS IS A NEW METHOD IN ADDITION TO UNDER THE NTO, WHICH IS MORE CUMBERSOME AND TIME CONSUMING AND OWNERS HAVE NOT USED IN THE PAST.

AWARE THEY WILL BE

THAT AS REGARDS OWNERS OF NON-RURAL LAND,

AND THEY MAY THEIR LAND IS EXEMPT FROM THE APPLICATION OF THE NTO

OF RESORT TO THE REMEDY OF MAKING A WILL IF THEY WISH CUSTOMARY RULES SUCCESSION TO APPLY.

HK'S FUTURE LIES WITH CHINA

HONG KONG'S FUTURE LIES WITH CHINA BECAUSE OF HISTORICAL,

ECONOMIC AND GEOGRAPHICAL,

POLITICAL

THE REALITIES,

CHIEF SECRETARY-DESIGNATE, MRS ANSON CHAN, SAID IN FRANKFURT TODAY (MONDAY).

IT

GIVING A KEYNOTE SPEFCH ΤΟ MORE THAN 350 GERMAN BUSINESS SECURE THAT FUTURE LEADERS THERE, MRS CHAN SAID HONG KONG WANTED TO BY CO-OPERATING WITH CHINA TO ENSURE THAT AFTER 1997 WE CAN CONTINUE

A FREE AND OPEN TO MAINTAIN THE RULE OF LAW,

MARKET AND GOOD CLEAN GOVERNMENT".

"THESE PRINCIPLES AND RULES HAVE SERVED US WELL IN THE PAST AND ARE THE BEST GUARANTEES FOR OUR CONTINUED SUCCESS, SHE SAID.

"

/MRS CHAN