TNAG-0806-FCO40-1011-Policy-of-Government-of-Hong-Kong-on-land-in-the-New-Territo-1979 — Page 117

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2

(c)

(a)

(e)

for land in a layout area.

ricultural land would

not normally be available for regrant in a layout area.

Outside a layout area the area of agricultural land to

be regranted would be calculated at a rate no less

favourable than 1, sq.ft. of agricultural land for

every 1 sq.ft. of agricultural land surrendered;

Crown rent would be payable on the new lot at the

appropriate rate therefor, which will be determined

at the time when the offer of the grant of the new

lot is made;

a building covenant would be imposed on the new lot

calculated according to the use to which the lot is

One assignment of the whole (but not

restricted.

a party of the new lot would be permitted before

the bulling covenant has been fulfilled, and the

other general and special conditions of exchange

have been complied with

The premium payable by you in respect of the grant

of this lot would be the market value of the land

to

tess ble rate of 510 per eo.ft.

(the 10 figure is made up of the market value of

the l.nd assessed under the Crown Lands Resumption

Ordinance plus an ex-gratia cash payment) on the

land to be surrendered. The value of the land to

be granted will be determined at my sole discretion at

the date of this letter except where the land to be grant t

to you in exchange needs to be reclaimed or othervise

formed or developed before it can be granted, the value

will be tae market value as at the date of this letter

as if the work of reclamation, etc., had already then

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