taking place on the same issue at the UN Conference),
have enabled us to form fairly specific views on the way
we see the Hong Kong Register developing.
3.4.
The position at the UN Conference is
particularly important since, with international
recognition of the Hong Kong Register being an essential
factor in its likely success, anything less stringent
than that adopted by the UN Conference might lead to
accusations of 'flag of convenience'. In summary, the UN
Conference position is that the genuine link may be
established with regard either to manning or to
ownership. The relevant extract of the (draft)
International Agreement is at Annex C.
3.5.
We have taken the following factors into
account in proposing the criteria for the genuine link:-
(a)
Hong Kong is a British port of registry
and the present ownership links include
companies incorporated in Hong Kong or in
the UK or in any British Dependent
Territory;