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Home Ownership Schemeˇ]HOSˇ^flat owners are reminded that they may sell, rent, or transfer the ownership of their flats in other ways in the open market upon the expiry of the alienation restriction period and the payment of a premium to the Housing Authority (HA).
A spokesman for the HA gave this reminder today (May 16) following a court case in which the owners of an HOS flat were convicted and fined for renting out their HOS flat before settling the premium.
The owners purchased an HOS flat in Lam Tin some years ago. They later moved to another flat in Tsueng Kwan O and rented out their HOS flat through a property agent without settling the premium. When the tenant applied for public rental housing, staff of the Housing Department found that the tenantˇ¦s address was an HOS flat and that the premium for the property had not been settled. The case was referred to the police.
ˇ§The Housing Ordinance has set out in detail the restrictions on the alienation of HOS flats and associated premium payment arrangements,ˇ¨ the spokesman said.
ˇ§As a form of subsidized housing, HOS flats were sold to eligible persons at prices well below market value. To ensure the proper use of public resources, HOS flat owners are required to pay a premium to the HA before they sell, lease or assign their flats in the open market in accordance with the Housing Ordinance,ˇ¨ he said.
ˇ§Any person who commits an offence of unauthorized alienation under the Housing Ordinance is liable to a maximum fine of $500,000 and one yearˇ¦s imprisonment,ˇ¨ he added.
Ends/Tuesday, May 16, 2006
Issued at HKT 20:55
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