49. The Crown rents of 252 sections of lots were determined under the Crown Rents (Apportionment) Ordinance (Cap. 125). Applications under this Ordinance may be made either by the owner of the Remain- ing Portion of a lot, in which case the rents of all the sections are determined, or by a section owner, in which case the rent of his section only is determined, the rent of the remainder of the lot being reduced correspondingly. Upon determination of the rent of a section the owner is deemed to hold the section as if a separate Crown lease for it had been granted to him at the determined rent.
Fees
50. Due to the record number of instruments registered the total of Land Office fees collected during the year, namely $955,827, was also the highest ever. The details are:
Deeds registration and Miscellaneous Crown leases
$899,633
16,715
...
Apportionment of Crown rents
...
4,479
Consents to sale of units in uncompleted multi-storey
buildings
35,000
$955,827
PART III
COMPANIES REGISTRY
Companies Registration
51. The Companies Ordinance (Cap. 32) is based on the Companies Act, 1929, formerly in force in Great Britain but now replaced by the Companies Act, 1948.
52. The Companies Registry had an extremely busy year, and the strongly rising trend of company registrations showed no sign of levelling out. For the fourth year in succession the number of companies registered broke the previous year's record total by over 200, and for the first time more than 1,000 companies were registered in a year. The year's total of 1,149 new registrations affords striking evidence of the growing popularity of organizing businesses, old and new, as limited companies. In fact, probably most new businesses of any magnitude are incorporated as limited companies. This is especially so in the real estate business, where incorporation is now standard practice. Many
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