SCOTT
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I think one appreciates your point of view, but you will see the point that I must put. Say by 1988, for example, the company has been turned around and is going very well, and you apply for a new licence (it is not a renewal). This is very hypothetical, but that might be the point in time when the government might offer you a new licence and one of the conditions might be that your holding be reduced to 49% or something of that order. It is very hypothetical, but
one has got to try and put these points on record so that we all know that they have been considéred.
VERNON
I appreciate the fact that you have mentioned this point because we recognise that is something that might happen some time in the future. We would expect nothing would happen for the period of our existing licence but that we would be allowed to continue to operate under the present
circumstances. However it is appreciated that when a new licence is to be issued, there could be a change of conditions and we would then have to decide whether we wanted to remain in
on that basis or not. I think this would be generally understood by any company operating
overseas.