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The following is issued on behalf of the Hong Kong Housing Authority:
Owners under the Home Ownership Scheme (HOS), Private Sector Participation Scheme (PSPS) and Tenants Purchase Scheme (TPS) must observe the alienation restrictions as laid down in the Housing Ordinance as these flats were sold to eligible persons at prices well below market value.
“To ensure the proper use of public resources, these owners are required to pay a premium to the Housing Authority (HA) to remove the alienation restrictions before they can sell, let or assign their flats in the open market,” a spokesman for the HA said.
The spokesman gave this reminder today (April 21) following a court case in which an HOS owner was convicted and fined $16,000 for having leased her HOS flat to a third party without settling the premium with the HA at the Kwun Tong Magistracy early this month.
The Housing Department adopts a zero tolerance policy against unlawful alienation and will carry out prompt investigation and institute prosecution action as appropriate.
“Any person who commits an offence of unlawful alienation under Section 27A of the Housing Ordinance is liable to a fine of $500,000 and one year’s imprisonment,” the spokesman said.
“The alienation restrictions have clearly been stipulated in the application forms, sales brochure and conveyancing document before the sale of flat. The relevant information may also be obtained through the Housing Authority/Housing Department’s website, hotline, and information leaflets,” he said.
Ends/Saturday, April 21, 2007
Issued at HKT 11:43
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