TNAG-1823-FCO40-2590-Hong-Kong-Housing-(Amendment)-Ordinance-1988-(No.-16-of-1988-1988 — Page 23

9.

HOUSING (AMENDMENT) BILL 1988

Section 15(2) of the principal Ordinance is amended by deleting Amendment of "30 September" and substituting the following—

"31 December”.

10. Sections 17AA(1) and (3) and 17B(ii) of the principal Ordinance are amended by deleting "Secretary for Housing" and substituting the following-

section 15.

3

Amendment of sections 17AA

and 17B.

"Director of Housing".

11. The Schedule to the principal Ordinance is amended in paragraphs Amendment of 1(b) and 2(b), the proviso to paragraph 2(b) and paragraph 4 by deleting Schedule. "Secretary for Housing" and substituting the following—

"Director of Housing".

12. (1) The First Schedule to the Public Finance Ordinance is amen- Consequential ded by deleting "Home Ownership Fund”.

(2) The resolutions of the Legislative Council relating to the Home Ownership Fund made and passed on 5 January 1977 and 27 July 1983 are cancelled.

Explanatory Memorandum

The main object of this Bill is to enable implementation of the following aspects of the Government's Long Term Housing Strategy.

2. References to the "Secretary for Housing" are replaced by the "Director of Housing".

3. Clause 2(a)(i) specifies that the Director of Housing will be Vice-Chairman of the Authority.

4. Clause 2(a)(ii) reduces the number of public officers on the Housing Authority from a maximum of 6 to a maximum of 3, in addition to the Director of Housing.

5. Clause 2(b) requires that a member who is not a public officer will be appointed as the Chairman of the Authority.

6. Clause 2(c) increases the quorum of the Authority from 7 to 9 members to ensure a majority of non public officer members.

7. Clause 3 amends section 4 to enable the Authority to guarantee financial obligations, loan money and accept security.

8. Clause 4 adds a new section 5A, effecting a transfer to the Authority of the assets and liabilities accounted for in the Home Ownership Fund.

9. Clause 5 amends section 7(2) to increase the membership of the appeal committee.

10. Clause 7 amends section 13 to add provisions, similar to those in section 10(2) of the Land Development Corporation Ordinance 1987, respecting disposition of excess revenues.

amendments.

(Cap. 2.)

(Cap. 2, sub. leg.)