THE future administration of the Sports Development Board will need permission from the Financial Secretary before being able to develop its land for commercial use.
At the final Legislative Council Bills Committee meeting yesterday, it was agreed that the SDB would be restricted in its power over land-use.
But in the event of extraordinary circumstances, residual power would enable the SDB to sell any land it holds with the approval of the Financial Secretary.
The land sale issue was one of several final details of the proposed SDB-Hong Kong Sports Institute merger that were ironed out yesterday.
The Bill is now ready to resume second reading at the Legislative Council on February 2.
The Amateur Sports Federation and Olympic Committee of Hong Kong has voiced concern over the amount of power the SDB will have over any land, saying the land is the sporting public's and should not be used for commercial gain.