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(iii) the freedoms sought by the HKSOA are
likely to reflect those offered in
jurisdictions where the vast majority of
its ships are registered but which are
generally regarded as flags of
convenience;
(iv) the more similar the new system is to the
old, the greater its chance of acceptance
by the UK, China and the rest of the
international community;
(v)
the tonnage on the register will
inevitably fluctuate due to various
external pressures and revenue will be
unpredictable. The same basic
infrastructure (mostly of staff for
survey, recording etc.) will, however, be
required. The existing system could cope
better with the problem.
5.9.
The principal drawback of the existing system
is its inability, as part of a centrally controlled