SRPA's response to media enquiries
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     Regarding media enquiries on the counting of seven days and three days under the Residential Properties (First-hand Sales) Ordinance (the Ordinance), which requires a vendor to make available the sales brochure during a period of at least seven days before a date of sale and the price list and a document containing the sales arrangements during a period of at least three days before a date of sale, and on whether the relevant guideline is clear, the Sales of First-hand Residential Properties Authority (SRPA) today (June 6) made the following response:

     According to the Ordinance, during a period of at least seven days immediately before a date of sale, a vendor must make hard copies of the sales brochure for the development available on a continual basis for collection by the general public free of charge and must make a copy of the sales brochure for the development available on a continual basis for inspection on the website designated by the vendor for the development. On the first day on which the vendor makes available the sales brochure to the public, the vendor must provide the sales brochure to the SRPA and the Sales of First-hand Residential Properties Electronic Platform (SRPE).

     Also, during a period of at least three days immediately before a date of sale, a vendor must make hard copies of the price list and the document containing the sales arrangements for the development available on a continual basis for collection by the general public free of charge and must make a copy of both documents available on a continual basis for inspection on the website designated by the vendor for the development. On the first day on which the vendor makes available the price list to the public, the vendor must provide the price list to the SRPA and the SRPE.

     As set out in the Guidelines issued by the SRPA in early April 2013, when counting the seven days and the three days, the date of sale is excluded from the counting but all Saturdays, Sundays and public holidays are included.

     For example, if a vendor wishes to offer to sell a property at any time on May 10, he must make available the sales brochure at least from May 3 (on a full-day basis) to May 9 (on a full-day basis) on a continual basis to meet the seven days requirement, and on any date of sale. If May 3 is the first day the vendor makes available the sales brochure to the public, the vendor must let the SRPA and the SRPE have the sales brochure also on May 3.

     The relevant guideline is available under the "Information for the Trade" section (website: www.srpa.gov.hk/en/guidelines.html.

     According to the Ordinance, the Guidelines issued by the SRPA are admissible in evidence in court proceedings.

     When possible breaches are identified, the SRPA will conduct investigation. If the nature of the possible breaches is a serious one and the case in question may bring substantial losses to the prospective purchasers, the SRPA will, without prejudice to the legal proceedings, disclose the cases of possible breaches as soon as possible for the sake of consumer protection so that prospective purchasers could act cautiously.

Ends/Thursday, June 6, 2013
Issued at HKT 18:49

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