Registrar-Generals-Department-Annual-report-1970-1971 — Page 17

the year in the private sector was up on the previous year, the supply was still well below the average for the preceding five years.

24. With the increase in the number of assignments the number of mortgages rose from 13,542 in 1969-70 to 16,900, including 158 building mortgages. The grand total of mortgage considerations jumped to $1,843,085,000, 66.5% over last year's total of $1,107,104,000. The figure included $231,040,000 in respect of the 158 building mortgages, which therefore averaged about $1,462,000 each. The number of re- assignments rose by 1,565 (17.5%) to the new record figure of 10,530, and the relevant considerations jumped by $315,233,000 (45.3%) to $1,010,442,000, also a new record.

25. The only other items in Tables V and VI that call for special mention are the big jump in the number of Agreements for Sale and Purchase from 6,164 to 10,206, reflecting the increase in the number of new building projects commenced; the sharp rise from 34 to 134 in the number of Exclusion Orders made under Section 38 of the Landlord and Tenant Ordinance; the decrease from 142 to 102 in the number of Re-development Notices served under Section 3 of the Demolished Buildings (Re-development of Sites) Ordinance; and the grand total of considerations in all instruments, which was up by 55.5% from $3,471,933,000 last year to $5,397,959,000, yet another new record.

26. All instruments relating to flats and other units in new multi- storey buildings are registered on cards in accordance with the new card registration system described in the 1965-66 Report. This system was so successful that it was decided to transfer all the records now contained in the old type bound registers on to cards. Since the maximum benefit of the new system is obtained in the case of subdivided multi-storey buildings, the existing subdivision registers relating to such buildings were dealt with first, and by 31st March 1968 the records in all of the 198 subdivision registers had been transferred to cards. The old registers relating to lots, sections and subsections owned as single entities are now being replaced by cards, but owing to the increase of current registration work and the limited staff available, very little progress in this work was made during the year 1970–71. All instruments relating to new lots, sections and subsections are also being registered on cards.

27. Every instrument presented for registration in the Land Office, together with the memorial thereof, is scrutinized prior to its registration.

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