Section 2 : Land Leases
Article 119
38
All le as es of land granted, decided upon or
renewed before the establish ment of the Hong Kong SAR which
extend bey cnd
bey cnd 30 June 1997, and all rights in relation to
leases, shall continue to be recognized and protected under the law of the Region.
such
Article 120
As regards leases of land granted or
of land granted or renew ed where
the original leases contain no right of renewal, during the
period from 27 May 1985 to 30 June 1997, which ext end
beyond 30 June 1997 and expire not later than 30 June 2047, the lessee is not required to pay an
required to pay an additional premium as
from 1 July 1997, but an
annual rent equivalent to 3 per
cent of the rateable value of the property at that date, ad just ed in step with any changes in
in the rateable value
thereafter, shall be charged.
Article 121
In the case of old schedule lots, village lcts, small houses and similar rural holdings, where the property
was on 30 June 1984 held by, or, in the case of small houses granted after that date, where property is granted to, a person descended through the male line from a person
who w as in 1898 a resident of an established village in
Hong Kong, the previous rent shall remain unchanged so long as the property is held by
is held by that person or by one of his
lawful successors in the male line.
Article 122
Where leases of land
without
а right of renew al expire after the establish ment of the Hong Kong SAR, they
shall be dealt
dealt with in accordance with laws and policies
formulated by the Region on its own.
No comments yet.
Private notes are available after approval.