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Commission has also been impressive.
DSR 11C (Revised 5/87)
The purpose of the
Land Commission is to consider the question of extending
leases of land that expire before 30 June 1997 and the
granting of new leases for terms expiring not later than
30 June 2047. Under the terms of the Joint Declaration,
premium income from land transactions is shared equally
between the Hong Kong Government and the future SAR
Government. To date, the Land Commission have senoidered
land leases and have reached agreement on a land
disposal programme of
hectares.
Almost
HK$ 10 billion has been credited to the account of the
future SAR Government.
22.
A key aspect of the implementation of the Joint
Declaration is the drafting of the Basic Law. This is
dealt with in Section XI of this Memorandum.
VIII: Development of representative government in Hong
Kong
23.
Hong Kong has evolved over the years a system of
government which has reflected its special circumstances.
These have included such factors as its status as a non
sovereign territory; its rapidly growing and highly
mobile population; its dynamic social and economic
development; and its role as a major financial and
business centre. The system which has evolved has been
one which must be capable of meeting the requirements and
aspirations of a changing society, while maintaining
stability, effective administration and economic
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