TNAG-2958-FCO40-4237-Future-of-Hong-Kong-British-Consulate-General-Colvin-House--1993 — Page 15

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Tenement partly replaced

Rounding

up

an interim valuation of a tenement or tenements wholly replacing the demolished or unoccupied tenement is made under the Rating Ordinance, include the rateable value of such tenement as last ascertained by the Commissioner;

(vi) where an interim valuation is made of a tenement or tenements which replace part of a former tenement in respect of which the rateable value as last ascertained by the Commissioner was included in the rateable value of the lot in accordance with sub-clause (d)(v) of the part of replaced by the such portion of former tenement,

hereof the rateable value the former tenement not interim valuation shall be the rateable value of the as last ascertained by the Commissioner, as the Director shall in his absolute discretion consider appropriate to that part.

(e) There shall be added to the yearly rent of the lot fixed in accordance with sub-clause (b) hereof such sum as may be

necessary to make the total number of dollars a multiple of four.

Collection

of amount

in lieu

of rent

Tenement partly on lot

Payment on demand

2. (a) In lieu of the collection of the yearly rent by the Director under General Condition 1(b) hereof, there

may, in addition to the rates to be collected quarterly by the Collector of Rates under the Rating Ordinance in respect of any tenement comprised wholly or partly within the lot, be demanded and collected by the Collector of Rates from the Grantee an amount equal to one fourth of 3% of the rateable value of any such

tenement together with such sum as may be necessary to make the total number of dollars in any such demand an integer. For the purpose of this sub-clause the provisions of General Condition 1(d)(i) and (ii) hereof shall apply mutatis mutandis.

(b) For the purpose of sub-clause (a) hereof, in the event that only part of a tenement is comprised within the lot the amount that may be demanded in respect of that part shall bear the same proportion to 3% of the rateable value of the tenement as, in the opinion of the Director whose decision thereon shall be final, the area of such part bears to the area of the whole of such tenement.

(c) Upon a demand being made by the Collector of Rates under sub-clause (a) hereof the Grantee shall pay the amount so demanded within the time specified in such demand.

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