RESTRICTED
(A) A COMPANY INCORPORATED IN HONG KONG SEMICOLOM OR
(B) AN INDIVIDUAL OPDINARILY RESIDENT IN HONG KONG.
IN EITHER CASE, THE MANAGEMENT AND CONTROL OF THE SHIP MUST AT ALL TIMES BE EXERCISED FROM HONG KONG, EITHER BY THE OWNER OP RY A MANAGEMENT COMPANY INCORPOPATED IN HONG KONG OR BY AN
A LEGALLY INDIVIDUAL WHO IS ORDINARILY RESIDENT IN HONG KONG. ACCOUNTABLE REPRESENTATIVE WILL ALSO BE REQUIRED TO BE MOMINATED AND SIMILAR CRITERIA FOP COMPANIES AND INDIVIDUALS WILL APPLY.
4.4.
TO AVOID PENALISING SHIPS ALREADY ON THE REGISTEP WHICH MIGHT NOT BE ABLE TO MEET THE PROPOSED OWNERSHIP CRITERIA, SPECIAL ARRANGEMENTS WILL BE MADE IN THE CASE OF INDIVIDUAL SHIPS PROVIDED THEY CONTINUE TO MEET SPECIFIED STANDARDS. THOSE SHIPS ALREADY ON THE REGISTER OP THOSE WHOSE OWNERS HAD LODGED NOTICE OF INTENTION TO REGISTER WITH THE EXISTING REGISTER BY (A CERTAIN DATE) WOULD BE ELIGIBLE TO BE PLACED ON THE MODIFIED REGISTER. IT WILL NOT BE NECESSARY FOR SUCH SHIPS TO COMPLY WITH THE OWNERSHIP OR MANAGEMENT AND CONTROL CPITERIA ABOVE. GIVEN THAT THE PRESENT ECONOMIC LIFE OF A SHIP IS LITTLE MORE THAN 10 YEARS, THESE ONE-OFF ARRANGEMENTS ARE LIKELY TO BE NO LONGE? PEQUIRED BY ABOUT THE YEAR 2000.
4.5.
A NUMBER OF PLEASURE CRAFT, WHICH ARE AT PRESENT REGISTERED AS BRITISH SHIPS IN HONG KONG, WOULD NOT MEET THE PROPOSED OWNERSHIP CRITERIA. ALTHOUGH THE SPECIAL APRANGEMENTS ABOVE COULD APPLY TO THEM, IT IS FOR FURTHER CONSIDERATION WHETHER SUCH CRAFT SHOULD CONTINUE TO BE INCLUDED ON THE PEGISTER.
ENDS.
2. PEPLY TO YOUR TELNO 26 OF 7 JANUARY WILL FOLLOW.
YOUDE
MINIMAL
HKD
MAED
RESTRICTED
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