TNAG-0809-FCO40-1014-Legislation-for-Crown-lands-in-Hong-Kong-1978 — Page 336

6

is paid under subsection (2), then the sum

so paid shall be a debt due to that person

from the owner of the tenement and shall be

recoverable as such from any rent or other

moneys for the time being due by that person

to the owner.

(4) In this section "owner" in relation

to a tenement means the person whose name

is registered in the Land Office as that of

the owner of the tenement or of any un-

divided share or other interest therein,

and any person deriving title from such

person by virtue of an underletting or

otherwise.".

Explanatory Memorandum

The object of this Bill is to clarify the

meaning of section 9 of the principal Ordinance by making

it clear that in determining the new Crown rent of a lot

or section held under a new Crown lease granted under the

principal Ordinance, which is 3 per cent of the rateable

value at the relevant day, within the meaning of the

Ordinance

(a) interim valuations of tenements comprised in

the lot or section are to be substituted for

existing rateable values or previous interim

valuations of those tenements, and added to the

rateable value of the lot or section where there

are no such existing values or previous valuations

(the new subsection (3) in clause 2(b) effects

this); and