TNAG-2957-FCO40-4236-Future-of-Hong-Kong-British-Consulate-General-Colvin-House--1993 — Page 13

Colvin House Private Treaty Grant Special Condition 14 Revised Proposal from HKG dated 23 February 1993

(1)

The Government shall have full power to resume, re-enter upon and re-take possession of all or any part of the lot if required for the general improvement of Hong Kong or for any other essential public purpose, twenty four calendar months' notice (or such lesser period as may be agreed in writing between the Government and the Grantee) being given to the Grantee of its being so required, and upon the exercise of this power the Grantee's tenancy of land so resumed shall cease, determine and be void, and the Grantee shall on the expiration of the said notice quit and deliver up possession of the land so resumed and the buildings thereon. Upon the exercise of the power there

the

shall

be paid by the Government to the Grantee the following compensation :-

(2)

of has

(a) in respect of the land resumed one fifty fourth such amount as the Government and Grantee agree been reasonably expended by the Grantee on site formation of the said land, multiplied by the number of complete years in the portion of the said term unexpired at the date of resumption;

(b)

in respect of any building or buildings lawfully erected оп the land resumed, such sum as the Director shall agree with the Grantee and would, taking into account the relevant circumstances, be fair and equitable and meet the requirement of the Government to act in compliance with the international legal obligation to pay prompt, adequate and effective compensation, in accordance with Special Condition No. 44 hereof.

If the Director and Grantee are unable to agree upon the sum Or sums payable to the Grantee under sub-paragraph (1)(a) or (b) of this Special Condition 14 within 3 months of the date of the expiry of the notice to resume, then it shall be referred for decision by three arbitrators, one to be appointed by each party and the third by mutual agreement, as provided for in the Arbitration Ordinance (Cap. 341) and acting in accordance with the Ordinance.

The third arbitrator shall act as chairman and shall be A sitting or retired judge from a Common Law jurisdiction.

The parties hereby agree that the decision of the arbitrators shall be final and binding on them.

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