CONFIDENTIAL
5
investment share, the UK Signatory (BT) is entitled to be
represented on the Board of Governors. The PRC Signatory
is also currently represented on the Board of Governors.
It should be noted that, under
arrangements for
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
(the UK Signatory) held 13.71% of the total INTELSAT
investment as of March 1988. In Hong Kong the
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
is
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
monetary terms, the total
Agreement.
In
to