CONFIDENTIAL
Housing Authori Ly/Depar bien b
8.
The clearance of the old work I nub-standard licensed areus hus now been completed with the movement of the last one thousand occupants at Sum Ku lluen to public housing. New licensed areas have been completed to provide temporary housing for homeless persons who are not eligible for direct allocation of public housing.
9.
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The Landlord and Tenant (Consultation) Ordinance was amended in 1970 to provide for increases in rent and for pre-wur rent- controlled private propertien The result is that average permitted rents for non-domestic ruid domestic tenancies are now about 26%% und 30% of market rate respectively. A further move to bring these rents into line with the market rate is being considered.
10. i
The Financing. Secretary mounced the details of u Home Ownership Scheme to mint hontebolder whose main income does not exceed HK$3,500 to purchase their own homes. Such householders will be able to buy flat at coat, under certain conditions of sule, instead of at open merket value, and the Government has arranged a package of auibable mortgage freilities to enable people to meet dobt ropayment.
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11. The Financial Soemetry also announced that the Government is proposing to suburit revised financial arrangements to the Housing Authority which would relieve the Authority of its
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inordinately large dei Liability and give it a firm capital base, ensure that the Authomly gon discharge it: statutory obligation to meet recurrent capenditure, and permit it grenter flexibility in determining rent..
Economie Servicen Brtgich
12. (1) Insider Trading
13.
The Executive Council han discussed a memorandum submitted by the Attorney-General and concluded that a further memorandum, ghould be drawn un. As UK experience has shown, the question of insider trading is very complex and it may well be some time before effective Tegi ulation can be devised.
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(1) Post: Legislation
Hong Kong wishes Lo bring its pontal legislation up to dute so as to maintain the Government monopoly. At present there are courier Pimms: Goerling from Hong Kong throughout South-East Asia and the Hon: Kong Government wishes to put an end to this practice. The DOL are advising the long Kong Government.
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CONPIDEITIAL
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