Land Leases |
Land Leases- Constitution of Hong Kong |
Section 2: Land Leases
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Article 120 |
All leases of land granted, decided upon or renewed before the
establishment of the Hong Kong Special Administrative Region which
extend beyond 30 June 1997, and all rights in relation to such leases,
shall continue to be recognized and protected under the law of the
Region.
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Article 121 |
As regards all leases of land granted or renewed where the original
leases contain no right of renewal, during the period from 27 May 1985
to 30 June 1997, which extend beyond 30 June 1997 and expire not later
than 30 June 2047, the lessee is not required to pay an additional
premium as from 1 July 1997, but an annual rent equivalent to 3 per cent
of the rateable value of the property at that date, adjusted in step
with any changes in the rateable value thereafter, shall be charged.
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Article 122 |
In the case of old schedule lots, village lots, small houses and
similar rural holdings, where the property was on 30 June 1984 held by,
or, in the case of small houses granted after that date, where the
property is granted to, a lessee descended through the male line from a
person who was in 1898 a resident of an established village in Hong
Kong, the previous rent shall remain unchanged so long as the property
is held by that lessee or by one of his lawful successors in the male
line.
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Article 123 |
Where leases of land without a right of renewal expire after the
establishment of the Hong Kong Special Administrative Region, they shall
be dealt with in accordance with laws and policies formulated by the
Region on its own.
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