Page:Land (Compulsory Sale for Redevelopment) Ordinance (Cap. 545).pdf/6

(6) No percentage may be specified in a notice under subsection (5) which is less than 80%.

(7) It is hereby declared that—

(a) without prejudice to the generality of the definition of “minority owner” or the operation of subsection (1)(b) or section 4(1)(b)(i), for the purposes of this section, in the calculation of any percentage of undivided shares in a lot owned by a person or persons (and whether or not he is or they are the person or persons referred to in subsection (1)), there shall be disregarded any undivided shares which are undivided shares in respect solely of any common parts of the lot;

(b) a notice under subsection (5) is subsidiary legislation.

4. Determination of application

(1) Subject to subsection (2), the Tribunal shall determine an application under section 3(1) by—

(a) first—

(i) if any minority owner of the lot the subject of the application disputes the value of any property as assessed in the application, hearing and determining the dispute;

(ii) in the case of any minority owner of the lot who cannot be found, requiring the majority owner of the lot to satisfy the Tribunal that the value of the minority owner’s property as assessed in the application is—

(A) not less than fair and reasonable; and

(B) not less than fair and reasonable when compared with the value of the majority owner’s property as assessed in the application;

(b) second—

(i) making an order that all the undivided shares in the lot the subject of the application be sold for the purposes of the redevelopment of the lot; or

(ii) refusing to make such an order; and

(c) third, where paragraph (b)(i) is applicable—

(i) appointing in the order for sale trustees satisfactory to the Tribunal nominated by the majority owner to discharge the duties imposed on trustees under this Ordinance in relation to the lot; and

(ii) authorizing the trustees to charge such remuneration for their services as trustees as the Tribunal thinks fit and specified in the order.