TNAG-0809-FCO40-1014-Legislation-for-Crown-lands-in-Hong-Kong-1978 — Page 340

- 2.

TUESDAY, MARCH 14, 1978

UNDER THE NEW SCHEME, FROM THE TIME OF THE FIRST APPROACH MADE BY THE CROWN LAND AND SURVEY OFFICE TO THE LICENSEE, THE. STAGING WILL BE AS FOLLOWS:

DURING SIX MONTHS OF NOTICE:

FIRST YEAR

$11 PER SQ. METRE PER ANNUM

$33

} }

SECOND YEAR

$49

"

THIRD YEAR

$65

FOURTH YEAR

$65

$130

''

FOR

OPEN STORAGE.

'' FOR

BUILT-OVER

AREAS.

FOR THOSE EX-LICENSEES WHO HAVE ALREADY AGREED TO THE STANDARD RATES PRIOR TO THE INTRODUCTION OF THIS STAGED SCHEME, APPROPRIATE REDUCTIONS WILL BE MADE IN THE NEXT YEAR'S RENTAL.

THE SPOKESMAN CLARIFIED THAT THE STAGED IMPLEMENTATION APPLIES ONLY IN CONVERSION CASES AND WILL NOT APPLY TO EXISTING SHORT TERM TENANCIES, THE RENTALS OF WHICH HAVE BEEN RECENTLY REVIEWED AND ARE NOW ASSESSED AT THE STANDARD RATES.

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