XN000022-1994-10-17 — Page 7

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MONDAY, OCTOBER 17, 1994

THE

NEW ARRANGEMENTS PROPOSED FOR CHEUNG CHAU SUB-LESSEES

THE GOVERNMENT PROPOSES TO INTRODUCE LEGISLATION RELATIONSHIP BETWEEN WONG WAI TSAK TONG, WHICH HOLDS CROWN LEASE OF CHEUNG CHAU, AND ITS SUB-LESSEES.

то REGULATE THE BLOCK

THE PROPOSED LEGISLATION SEEKS TO CLARIFY THE PROCEDURE FOR THE

BY PAYMENT

OF EXTENSION OF SUB-LEASES, RENEWAL AND GOVERNMENT RENT AND PREMIUM FOR LEASE MODIFICATIONS EXCHANGES.

SUB-LESSEES

AND LAND

IN THE

UNDER THE PROPOSED LEGISLATION, SUB-LEASES REGISTERED LAND REGISTRY AT THE DATE WHEN THE LEGISLATION COMES INTO EFFECT WOULD BE RENEWED AND EXTENDED FROM THEIR EXPIRY DATE UNTIL JUNE 27,

2047.

ON CHEUNG A GOVERNMENT SPOKESMAN SAID MOST OF THE SUB-LEASES CHAU WOULD EXPIRE ON NOVEMBER 8, 1994, AND THEY WOULD BE RENEWED EXTENDED BY THE PROPOSED LEGISLATION IF THEY WERE REGISTERED LAND REGISTRY BEFORE THEIR EXPIRY DATE.

AND IN THE

THIS WILL NOT BE APPLICABLE TO SUB-LEASES ALREADY EXTENDED BEYOND NOVEMBER 1994 BY MUTUAL AGREEMENT BETWEEN THE TONG AND THE SUB- LESSEES.

THE TONG WILL CONTINUE TO COLLECT GOVERNMENT RENT FROM THE SUB-

AND

UNDER PAY THE FULL AMOUNT TO THE GOVERNMENT

ITS BLOCK LESSEES CROWN LEASE BEFORE JULY 1, 1997.

BUT, STARTING FROM JULY 1, 1997, THE SUB-LESSEES WILL PAY RENT AT THREE PER CENT OF RATEABLE VALUE, DIRECTLY TO THE AND THE TONG WILL BE ENTITLED TO COLLECT ONLY THE AMOUNT SPECIFIED A SUB-LEASE AND NO OTHER ADDITIONAL CHARGES AND FEES.

THE

IN

GOVERNMENT,

AS LESSEE UNDER THE BLOCK CROWN LEASE, THE TONG WILL BE ALLOWED BY TO CHARGE THE SUB-LESSEES UP TO 10 PER CENT OF THE PREMIUM CHARGED THE GOVERNMENT FOR LEASE MODIFICATION AND LAND EXCHANGE.

THE

AND

THE SPOKESMAN SAID THE GOVERNMENT HAD WRITTEN TO THE TONG

THE PROPOSED CHEUNG CHAU RURAL COMMITTEE TO SEEK THEIR VIEWS ON

WHICH WAS EXPECTED TO BE INTRODUCED INTO THE LEGISLATION

LEGISLATIVE

COUNCIL BARLY NEXT YEAR.

HE SAID SUB-LESSEES ON CHEUNG CHAU WERE ALSO INVITED TO FORWARD THEIR VIEWS ΤΟ THE PLANNING, ENVIRONMENT AND LANDS BRANCH ON THE PROPOSALS. COPIES OF A NOTE EXPLAINING THE PROPOSALS ARE FROM THE DISTRICT OFFICE (ISLANDS).

OBTAINABLE

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