{"id":1105,"date":"2024-10-11T01:01:47","date_gmt":"2024-10-10T17:01:47","guid":{"rendered":"https:\/\/www.tradenet.hk\/b2b\/compulsory-sale-ordinance-amended\/"},"modified":"2024-10-11T01:01:47","modified_gmt":"2024-10-10T17:01:47","slug":"compulsory-sale-ordinance-amended","status":"publish","type":"post","link":"https:\/\/www.tradenet.hk\/b2b\/compulsory-sale-ordinance-amended\/","title":{"rendered":"Compulsory sale ordinance amended"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.news.gov.hk\/eng\/2024\/10\/20241010\/20241010_110654_165\/images\/20241010121427151.jpg\"><\/p>\n<p>The Government today published a notice in the Gazette specifying that amendments to the Land (Compulsory Sale for Redevelopment) Ordinance will come into effect on December 6.<\/p>\n<p>\u00a0<\/p>\n<p>The Legislative Council passed the Land (Compulsory Sale for Redevelopment) (Amendment) Ordinance 2024 in July. It updates the statutory compulsory sale regime by lowering compulsory sale application thresholds, facilitating multiple adjoining-lot compulsory sale applications, streamlining the legal process for compulsory sales, and enhancing support for affected minority owners.<\/p>\n<p>\u00a0<\/p>\n<p>The Development Bureau said the amendments aim to expedite the consolidation of private property interests, thereby facilitating the redevelopment of old and dilapidated buildings. It added that this will address safety risk in such buildings and improve people\u2019s livelihood while enhancing legal protection of minority owners\u2019 interests.<\/p>\n<p>\u00a0<\/p>\n<p>The Government\u2019s commencement notice will be tabled in the council for negative vetting on October 16.<\/p>\n<p>\u00a0<\/p>\n<p>Meanwhile, the bureau\u2019s Dedicated Office of Support Services for Minority Owners under Compulsory Sale (DOSS), and the Urban Renewal Authority\u2019s Support Service Centre for Minority Owners under Compulsory Sale (SMOCS) have come into operation.<\/p>\n<p>\u00a0<\/p>\n<p>The SMOCS, supervised by the DOSS, provides one-stop enhanced support services to minority owners at various stages of the compulsory sale application process to help them understand their statutory rights.<\/p>\n<p>\u00a0<\/p>\n<p>The bureau will seek the council\u2019s approval in due course to provide additional manpower resources to the Lands Tribunal, allowing it to cope with the increased workload arising from the implementation of the amendment ordinance, and to set up a loan guarantee scheme for eligible minority owners to obtain bank loans to engage legal and other professionals when dealing with compulsory sale litigation.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Government today published a notice in the Gazette specifying that amendments to the Land (Compulsory Sale for Redevelopment) Ordinance will come into effect on December 6. \u00a0 The Legislative Council passed the Land (Compulsory Sale for Redevelopment) (Amendment) Ordinance 2024 in July. It updates the statutory compulsory sale regime by lowering compulsory sale application<span class=\"post-excerpt-end\">&hellip;<\/span><\/p>\n<p class=\"more-link\"><a href=\"https:\/\/www.tradenet.hk\/b2b\/compulsory-sale-ordinance-amended\/\" class=\"themebutton\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":1106,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[34],"class_list":["post-1105","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-news"],"nelio_content":{"isAutoShareEnabled":true,"autoShareEndMode":"never","automationSources":{"useCustomSentences":false,"customSentences":[]},"followers":[1],"suggestedReferences":[],"efiUrl":"","efiAlt":"","highlights":[],"permalinkQueryArgs":[]},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Compulsory sale ordinance amended - TRADENET.HK B2B Platform<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tradenet.hk\/b2b\/compulsory-sale-ordinance-amended\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Compulsory sale ordinance amended - TRADENET.HK B2B Platform\" \/>\n<meta property=\"og:description\" content=\"The Government today published a notice in the Gazette specifying that amendments to the Land (Compulsory Sale for Redevelopment) Ordinance will come into effect on December 6. \u00a0 The Legislative Council passed the Land (Compulsory Sale for Redevelopment) (Amendment) Ordinance 2024 in July. 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