TNAG-2957-FCO40-4236-Future-of-Hong-Kong-British-Consulate-General-Colvin-House--1993 — Page 43

PRIVATE TREATY GRANT

SPECIAL CONDITION 14 (HONG KONG DRAFT PRESENTED DECEMBER 1992 TO BRITISH TRADE COMMISSION)

BEGINS

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 improvement of Hong Kong or for any other public purpose whatsoever (as to which the decision of the Governor shall be conclusive), twelve calendar months' notice being given to the Grantee of its being so required, and upon the exercise of this power the Grantee's tenancy of the 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 shall be paid by the Government to the Grantee the following compensation only:-

(a) in respect of the land resumed - one fifty-fifth of such amount as in the opinion of the Director has 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 or parts of any building or buildings lawfully erected on the land resumed such sum as the Director shall, at his sole discretion, certify to be the depreciated current replacement cost or costs of the building or buildings or parts thereof as at the date of resumption; it being fully agreed and understood that separate sums shall be certified in respect of any separate addition or improvement to the building or buildings or parts thereof: Provided always that in arriving at such sum, the Director shall ensure that he fully complies with the relevant international obligations subsisting at the date of resumption in accordance with SC No 44 hereof.

ENDS

[NOTE: SC44 lays down that the Government shall act at all times in conformity with any international obligations that may be applicable]

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