HL Deb 18 February 1985 vol 460 cc468-9WA
The Earl of Lauderdale

asked Her Majesty's Government:

To state what guarantees of the property rights of British citizens in Hong Kong are embodied in the treaty recently signed with the republic of China.

Baroness Young

Property rights in Hong Kong after 1st July 1997 are fully provided for in the Sino-British agreement. Section VI of Annex 1 to the Joint Declaration statesRights concerning the ownership of property, including those relating to acquisition, use, disposal, inheritance and compensation for lawful deprivation (corresponding to the real value of the property concerned, freely convertible and paid without undue delay) shall continue to be protected by law". Paragraph 1 of Annex III to the Joint Declaration also provides that all rights in relation to land leases extending beyond 30th June 1997 will be recognised and protected under the laws of the Hong Kong Special Administrative Region.