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compensation rate proposed in this report. The Working
Group also understands that the rates of compensation
offered for private lands in New Kowloon are based on
similar considerations as have obtained in the New
Territories; these may also require a consequential
review.
Date of Implementation
6.3 More important, however, may be the effect of the
revised compensation rates on recently created exchange
entitlements. Some 11 million square feet of agricultural
land were resumed in 1977 and even during the currency
of the Working Group's discussions, the resumption of
some 7.4 million square feet of agricultural land has
been gazetted and Letter B terms have been offered under
the existing policy. It is never easy to set a date for
the commencement of improved terms, as the considerations
which have led to the improved terms can often be equally
related to the period before the proposed commencement
date. At the least, it will clearly be necessary to date
the new terms from the date when the contents of this
report are first made public.
Special Acquisition Areas Policy
6.4.
Although the Special Acquisition Areas Policy
(described in the Royal Institution of Chartered Surveyors
(Hong Kong Branch) submission at Enclosure 5) provides
/an
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