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CONFIDENTIAL #2
Postal services,
Telephones and
Telecommunications
8. Division of
proceeds from international calls between Cable & Wireless and Telephone Company.
To consider whether there is a case for adjusting the existing division of proceeds.
As a result of adjudication by the Government (PMG), TelCo will receive 40%, instead of 22%, of the proceeds from long-haul outgoing international calls and 60% from short-haul traffic calls (i.e. less than 100 miles) w.e.f. 1.6.80 C & W has withdrawn the writ against TelCo, and TelCo has paid C & W the moneys previously withheld.
Action completed.
Irade and Industry
9. Recommendations
of the Advisory Committee on
Diversification.
To co-ordinate their implementations as accepted by xCo.
Coordination of the implementation of those recommendations accepted by ExCo, continued.
Five progress
reports on implementation have been made to ExCo.
To k.i.v. imple- mentation of accepted
recommendations, and to make the second batch of 6-monthly progress reports to ExCo.
Commerce
10. Companies Law
revision.
To carry out the recommendations of the Companies Law Revision Committee as accepted by the Government.
(i) The deadline for public comments
has been extended twice for the Hong Kong Law Society and the Society of Accountants. Comments received from the latter in December 1980 and the former on 20.1.81.
To consolidate comments received for the purpose of inter- departmental consultation and discussions
with UMELCO.
CONFIDENTIAL ##