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Article: Ho Tung Gardens Saga and the Basis of Compensation under the Antiquities and Monuments Ordinance: A Comparative and Incentive Case Study on Regulatory Takings

TitleHo Tung Gardens Saga and the Basis of Compensation under the Antiquities and Monuments Ordinance: A Comparative and Incentive Case Study on Regulatory Takings
Authors
Issue Date2013
PublisherSweet & Maxwell Asia. The Journal's web site is located at http://www.hku.hk/law/hklj/
Citation
Hong Kong Law Journal, 2013, v. 43 n. 3, p. 835-868 How to Cite?
AbstractRegulatory schemes that mandate historical preservation for private property are increasingly common. This article employs the attempt to preserve Ho Tung Gardens as a case study to examine problems in the design of compensation measures for such schemes. The compensation provision of Antiquities and Monuments Ordinance (Cap 53) is ambiguously worded, and this article argues that this Ordinance provides compensation only for the additional costs associated with the maintenance of historical buildings and does not compensate owners for property value depreciation. However, this article also argues from an incentive perspective that adequate compensation should be provided to property owners for such depreciation to ensure that the government and the public duly account for the true costs of heritage conservation. In addition, adequate compensation eliminates the perverse incentives for owners to preemptively demolish historical buildings in order to avoid the regulatory regime. This article draws on similar legislative experiences in the UK to propose guidelines for reforming the compensation provision.
Persistent Identifierhttp://hdl.handle.net/10722/196789
ISSN
2015 Impact Factor: 0.215
2015 SCImago Journal Rankings: 0.101
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorChen, Jen_US
dc.date.accessioned2014-04-29T03:40:54Z-
dc.date.available2014-04-29T03:40:54Z-
dc.date.issued2013en_US
dc.identifier.citationHong Kong Law Journal, 2013, v. 43 n. 3, p. 835-868en_US
dc.identifier.issn0378-0600-
dc.identifier.urihttp://hdl.handle.net/10722/196789-
dc.description.abstractRegulatory schemes that mandate historical preservation for private property are increasingly common. This article employs the attempt to preserve Ho Tung Gardens as a case study to examine problems in the design of compensation measures for such schemes. The compensation provision of Antiquities and Monuments Ordinance (Cap 53) is ambiguously worded, and this article argues that this Ordinance provides compensation only for the additional costs associated with the maintenance of historical buildings and does not compensate owners for property value depreciation. However, this article also argues from an incentive perspective that adequate compensation should be provided to property owners for such depreciation to ensure that the government and the public duly account for the true costs of heritage conservation. In addition, adequate compensation eliminates the perverse incentives for owners to preemptively demolish historical buildings in order to avoid the regulatory regime. This article draws on similar legislative experiences in the UK to propose guidelines for reforming the compensation provision.en_US
dc.languageengen_US
dc.publisherSweet & Maxwell Asia. The Journal's web site is located at http://www.hku.hk/law/hklj/-
dc.relation.ispartofHong Kong Law Journalen_US
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.titleHo Tung Gardens Saga and the Basis of Compensation under the Antiquities and Monuments Ordinance: A Comparative and Incentive Case Study on Regulatory Takingsen_US
dc.typeArticleen_US
dc.identifier.emailChen, J: jianlin@hku.hken_US
dc.identifier.authorityChen, J=rp01530en_US
dc.description.naturepublished_or_final_version-
dc.identifier.scopuseid_2-s2.0-84926392406-
dc.identifier.hkuros228722en_US
dc.identifier.volume43en_US
dc.identifier.issue3-
dc.identifier.spage835en_US
dc.identifier.epage868en_US
dc.identifier.isiWOS:000330006800004-
dc.publisher.placeHong Kong-

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