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[接上页] (a) in respect of a working day must not be lower than the lowest of the interest rates paid on deposits at 24 hours' call by note-issuing banks at the close of business on that day; and (b) in respect of a non-working day must not be lower than the lowest of the interest rates paid on deposits at 24 hours' call by note-issuing banks at the close of business on the last working day before that day. (Added 6 of 2001 s. 2)(2) Any payment made by the Authority under subsection (1) in respect of any claim shall be without prejudice to the claim or the submission thereof to, or the determination thereof by, the Lands Tribunal under this Ordinance; but the amount of compensation payable by virtue of such determination in respect of such claim shall be reduced by the amount of such payment. (Amended 62 of 1985 s. 2) (3) Where the amount of compensation payable by virtue of a determination of the Lands Tribunal under this Ordinance is reduced under subsection (2) by the amount of any payment made under subsection (1), such compensation shall not as from the date on which the payment is made bear interest except on the amount thereof as so reduced. (Replaced 62 of 1985 s. 2) (4) Where the amount of any payment made by the Authority under subsection (1) in respect of any claim exceeds the amount of the compensation determined by the Lands Tribunal in respect of such claim, the amount of the excess shall be recoverable by the Authority as a civil debt. (Amended 62 of 1985 s. 2) (Added 5 of 1984 s. 7) Cap 124 s 17 Payment of compensation and interest Remarks: For the validation of interest payments and application provisions relating to the amendments made by 6 of 2001, see section 13 of 6 of 2001. (1) All sums of money agreed or determined as compensation (together with interest thereon as hereinafter mentioned), and all costs and remuneration awarded against the Government, shall be paid out of the general revenue. (Amended 63 of 1974 s. 13; 3 of 2000 s. 3) (2) At any time after agreement or determination by the Lands Tribunal of the amount of compensation to be paid under this Ordinance, the Authority may by notice published in the Gazette require the person entitled to such compensation to collect the same within the time and at the place specified in the notice. (Replaced 63 of 1974 s. 13) (3) Subject to section 16A(3), any sum of money payable as compensation by virtue of a determination of the Lands Tribunal or an agreement under this Ordinance shall bear interest from the date of resumption of the land until the expiration of the time specified in the notice referred to in subsection (2). No interest shall be payable on any costs or remuneration. (Replaced 63 of 1974 s. 13. Amended 5 of 1984 s. 8) (3A) Subject to subsection (3B), the rate of interest for the purposes of subsection (3) shall be such rate as the Lands Tribunal may fix. (Replaced 6 of 2001 s. 2) (3B) The rate of interest fixed under subsection (3A)- (a) in respect of a working day must not be lower than the lowest of the interest rates paid on deposits at 24 hours' call by note-issuing banks at the close of business on that day; and (b) in respect of a non-working day must not be lower than the lowest of the interest rates paid on deposits at 24 hours' call by note-issuing banks at the close of business on the last working day before that day. (Added 6 of 2001 s. 2)(4) If no claim be made for the compensation money at the place, and within the time appointed, the officer appointed as aforesaid shall cause such money to be paid into the Treasury. (5) The money thus paid into the Treasury or any part of it may, within a period of 5 years from the expiration of the time referred to in subsection (2), be claimed by the person entitled thereto and upon such claim being substantiated shall be paid to the person so entitled. (6) At the expiration of the said period of 5 years the money or such part of it as remains unpaid shall be transferred to the general revenue. (Amended 71 of 1971 s. 3; 3 of 2000 s. 3) (Replaced 33 of 1929 s. 2) Cap 124 s 18 Payment when owner absent, etc. Remarks: Adaptation amendments retroactively made - see 29 of 1998 s. 32; 3 of 2000 s. 3 When the owner of any land which has been resumed is absent from Hong Kong or cannot be found, or within 6 months from the date when the amount of compensation shall have been determined makes no claim to the same, or is in the opinion of the Chief Executive unable to give an effectual discharge for the same, the Chief Executive may direct payment of the compensation to be made to such other person on behalf of the owner as he shall think proper, subject to such conditions as he thinks fit, and the receipt of such person shall be a valid and effectual discharge for the same in the same manner as if payment had been made to the owner. (18 of 1910 s. 7 incorporated. Amended 28 of 1911 s. 6(e); 50 of 1911; 1 of 1912 Schedule; 62 of 1985 s. 3; 3 of 2000 s. 3) Cap 124 s 19 Effect as evidence of notice of resumption |