TNAG-1619-FCO40-2228-Executive-Council-of-Hong-Kong-memoranda-and-minutes-of-meet-1987 — Page 299

M(87) 15

178

A156

NEW TERRITORIES LEASES (EXTENSION) BILL

(L/M to BLDC 1/10/1020/84 V)

The Council considered memorandum XCC (87)57.

The Council ADVISED and the Acting Governor ORDERED

(a) that the New

Territories

Leases (Extension) Bill 1987

at Annex A to the memorandum

should be introduced into

the Legislative Council; and

(b) that when the Bill is

introduced

into

the

Legislative Council,

it

should be stressed that the

3% annual rent payable on

extension of a lease will be

less than the premium which

would be payable on the

grant of a new lease. The

point

made

should also be

that Government hopes to

complete its studies into

airport options as soon as

possible.