For discussion
CONFIDENTIAL
on 24 March 1987
191/1
2
XCC (87)51 34
Copy No....
MEMORANDUM FOR EXECUTIVE COUNCIL
Telephone Ordinance (Chapter 269)
the Thom
TRANSFER TO A SUBSIDIARY OF PART OF THE UNDERTAKING
OF HONG KONG TELEPHONE COMPANY (TELCO)
Introduction
A
B
C
Section 35 of the Telephone Ordinance (Chapter 269) states that Telco may not assign, transfer, mortgage, charge, lease or otherwise dispose of
dispose of any part of its undertaking without the written consent of the Governor in Council. Telco's undertaking includes all of its land and buildings.
2
This memorandum seeks Members advice on a request by Telco to transfer the ownership of two properties to its subsidiary company, Telco Properties Ltd., for the purpose of re-development and management.
Background
3
considering memorandum Governor ordered that
On 23 November 1982, after XCC (82) 141, Members advised and the certain services which were not exclusive to Telco or not an
essential part
part of the telephone service, including property development, should no longer be subject to the Scheme of Control. A condition of this decision was a stipulation that such services be supplied by a subsidiary company of Telco.
4
On 31 May 1983, after considering memorandum XCC(83)58, (see Annex A), Members advised and the Governor ordered pursuant to section 35 of the Telephone Ordinance that consent be given to Telco to transfer to its subsidiary at that time, those parts of its concession listed at Annex B, and those parts of its undertaking, listed in paragraph 4 of Annex C. In addition, the Postmaster General was authorized to approve the transfer of such additional parts of Telco's undertaking as might be necessary for the transfer by Telco to its subsidiary of the services listed in Annex B.
CONFIDENTIAL