CONFIDENTIAL #
Subject
Purpose
Fart I
Progress Made & Present Position
Next Quarter Targets
¿
Letter and B
Exchanges
To devise an acceptable substitute fr exchange entitlements.
The main recommendations of the Working Group on New Territories Urban Land Acquisitions had been accepted by the Executive Council. The new rate of compensation and the package offer for resuming of land were approved by the Finance Committee. The new policy was implemented with effect from early July, 1978. The other recommendations on procedural matters have been considered and a further Executive Council memorandum has been completed proposing a new package compensation deal for the non-layout areas in the New Territories. also revises the rates of compensation for old scheduled agricultural and building land in New Kowloon and Hong Kong Island. The new proposals have been included in the same memorandum to be presented to the Executive Council.
It
(a) To present the
new package compensation deal for resumption of land in non-layout areas in the New Territories to the Executive Council in early November.
(b) To seek Finance
Committee's approval for the financial
implications of these proposals.
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CONFIDENTIAL #
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