5
representation at international meetings which were agreed
with BT and the Cable and Wireless Group in 1984, the UK
Government has reserved the right to attend all INTELSAT
Board meetings where questions concerning UK government
policy are at issue.
7.
In accordance with Article V of the Agreement, BT
held 13.71% of the total INTELSAT investment as of March
1989. In Hong Kong the earth stations using the space
segment are operated by the Cable and Wireless Group. The
Cable and Wireless Group participates in BT's investment
share, and therefore their presence at all INTELSAT fora
is essential so that they may participate in and influence
at first hand the considerations and decisions of the
Organisation. That part of the Cable & Wireless Group's
financial interest in the total INTELSAT investment, which
is attributable to the Group's activities in respect of
earth stations in Hong Kong, is 2.79% of the total
INTELSAT investment.
This means that the utilization of
the earth stations in Hong Kong likewise constitutes 2.79%
of all utilization of the INTELSAT space segment by all
Signatories calculated in accordance with the method
provided in Article 6 of the Operating Agreement. In
monetary terms, the total INTELSAT investment attributable
to utilization in Hong Kong is US$40,571,000.
receives payments in accordance with Article V(c) of the
Agreement. Of these the Cable & Wireless Group receives
from BT amounts proportional to the Group's participation
in BT's investment share.
BT also