Page:Land (Compulsory Sale for Redevelopment) Ordinance (Cap. 545).pdf/12

LAND (COMPULSORY SALE FOR REDEVELOPMENT) ::(B) the purposes of discharging the duties imposed on trustees under this Ordinance in relation to the lot; and
 * (C) the purposes of executing any documents required for any of the purposes referred to in subparagraph (A) or (B); and
 * (ii) the conditions specified in Schedule 3 shall be binding on and enforceable against the purchaser and the purchaser’s successors in title.

(2) A new trustee or trustees appointed by virtue of section 4(10) shall cause a copy of the order appointing him or them to be registered under the Land Registration Ordinance (Cap. 128) against the lot to which the order relates and, immediately upon that registration—
 * (a) the order for sale concerned shall be read and have effect to take into account the effect of that first-mentioned order; and
 * (b) the references to “trustees” in subsection (1)(i), and the other provisions of this Ordinance, shall be construed accordingly.

(3) Where an order for sale is of no effect by virtue of section 5(2) or (4), the trustees under the order shall as soon as practicable thereafter cause—
 * (a) the registration referred to in subsection (1) of the order and of Schedule 3 (insofar as it relates to the lot); and
 * (b) the registration, if any, referred to in subsection (2) of the order first-mentioned in subsection (2),

to be vacated under section 20 of the Land Registration Ordinance (Cap. 128).

(4)Where the purchaser of the lot the subject of an order for sale is the majority owner or any minority owner of the lot, the power vested under subsection (1)(i) in the trustees under the order to assign all the estate, right and interest in the lot shall cease immediately upon the purchaser becoming the owner of that part of the lot which is not already owned by the purchaser.

(5)It is hereby declared that—
 * (a) subsection (1)(i) shall not operate to prevent the majority owner or any minority owner of the lot the subject of an order for sale from assigning all or any part of the estate, right and interest in the lot respectively held by them—
 * (i) at any time before there is a purchaser of the lot; and
 * (ii) that they have the power to assign;
 * (b) where the trustees exercise the power vested under subsection (1)(i) to assign all the estate, right and interest in the lot, then for all purposes the assignment shall be as valid and effectual as if it had been made by the majority owner and minority owner of the lot.

(6)The purchaser of the lot shall, not later than 14 days after the day on which he became the owner of the lot, notify the Director of Lands in writing that he became such owner.