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The purpose of this Ordinance is to introduce a title registration system which will bring significant improvement to the system of maintaining land records in Hong Kong and increase the ease and security with which property transactions can be undertaken.This Ordinance applies to land held under a Government lease.The Ordinance shall set out registration procedures and shall provide for the registration of title to new land.In addition, the Ordinance shall set up an indemnity scheme to protect individuals who suffer loss of ownership because of an entry or omission in the title register obtained through fraud or loss due to mistake by the Land Registry staff. A Land Titles Indemnity Fund shall also be established.The Ordinance further provides for: certificates, searches and evidence; dispositions on registered land or registered long-term lease; registration of cautions; rectification of errors in the Title Register; appeals to court; offences and penalties; etc.