VERNON
(cont'd)
We have in fact had an office in Hong Kong for the last two years, but the person who was running that office was transferred to another part of the company. We do however have another person who will be replacing the solicitor as our representative on that Board. We understand that it is necessary for the directors to be residents and for hat
company to be able to act independently.
SCOTT
There might be a timing problem. I think your replacement officer would not be able to go on that Board until he had been in Hong Kong for 6 months.
LOVASS
It is the majority of directors, in which case we will be flexible about when the change occurs so that would not be a problem.
TERRY
I think we can in fact underline that quite strongly. It is a matter that has been discussed at ..ength at meetings among the consortium partners and in theory it is inconvenient for us and could be carefully monitored with that board and it is indeed run by the Hong Kong representatives responsible for policy and ongo .ng supervision.