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The Government announced today (October 20) the composition of the Steering Committee on the regulation of the sale of first-hand residential properties by legislation.
Chaired by the Permanent Secretary for Transport and Housing (Housing), the Committee is comprised of the following members:
Representative of the Consumer Council
Representative of the Estate Agents Authority
Representative of the Hong Kong Institute of Surveyors
Representative of the Law Society of Hong Kong
Representative of the Real Estate Developers Association of Hong Kong
Mr Lee Wing-tat
Professor Patrick Lau
Professor Andrew Chan
Professor Lam Kin-che
Mr Cheung Kwok-kwan
Director of Buildings or his representative
Director of Lands or her representative
Deputy Secretary for Transport and Housing (Housing)
"As announced by the Chief Executive in the 2010-11 Policy Address, the Steering Committee will discuss specific issues on regulating the sale of first-hand flats by legislation. In particular, the Steering Committee will deliberate on the scope of the legislative framework (e.g. the definition of first-hand properties to be covered under the legislation), the key features to be regulated under the proposed legislation (including sales practices, price lists, show flats, and saleable area, etc), and the enforcement mechanism and penalties,"a spokesman for the Transport and Housing Bureau said.
"Three subcommittees will be formed under the Steering Committee, namely the Subcommittee on Property Information and Show Flat, the Subcommittee on Sales Arrangements and Practices, and the Subcommittee on the Enforcement Mechanism and Penalties, to deliberate on issues falling within their ambits."
"The Steering Committee should come up with practical recommendations within a year. The Transport and Housing Bureau's target is to take forward the subsequent consultation in the form of a White Bill in order to expedite the process," the spokesman said.
"Representatives from other relevant professional bodies, bureaux and departments may be invited as co-opted members or invited to attend meetings on a need basis," he added.
Ends/Wednesday, October 20, 2010
Issued at HKT 20:19
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