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To insist on actual management and control would raise questions as to beneficial ownership, the position of demise charterers and ship management companies and has been resisted by Group B countries in the discussion on open registries.
In addition, and most importantly, a number of companies having their principal place of business in the United Kingdom have registered ships in Hong Kong. The effect of removal of this possibility would have serious implications for them and it is felt that such a major policy shift would not give the impression of a stable regime under which to register ships, which is desired. (GCBS)
There should be a link between Hong Kong and the ships registered on its Register. In order to qualify for entry on the Register, a vessel must be owned by a company incorporated in Hong Kong and such vessel must be managed from Hong Kong.
An exception could be made in respect of any ship owned by a Hong Kong company, which is chartered by demise to a non-resident of Hong Kong, if the company is genuinely managed or controlled by residents of Hong Kong.
Foreign shipowners should be encouraged to establish genuine management operations in Hong Kong for the purpose of managing ships which those foreign shipowners wish to register in Hong Kong, and not for the sole purpose of flying the Hong Kong flag.
The chartering of vessels to foreign shipowners by leasing companies established in Hong Kong by financial bareboat charterparties should not result in the foreign shipowners being entitled to fly the Hong Kong flag.
Special exemptions may however have to be given to those existing shipowning companies which are incorporated outside Hong Kong, but which own vessels registered in Hong Kong and have a long genuine and close relationship with Hong Kong, such as Swire. (HKSOA)
The assumption that there will be no fundamental change in the concept of ownership after 1997 does not inevitably lead to the conclusion that the provisions for the registration of ownership under the new shipping legislation must follow exactly those of the present Merchant Shipping Acts.
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