(b)
Large Groups
CONFIDENTIAL
(c)
(d)
(e)
Large groups like Swires, Jardines, Inchcape, Kier/Beazer each have many companies within their groups, some wholly owned subsidiaries, some less than 50% owned. Staff working within the groups are often moved from one subsidiary to another. The Advisory Group consider that all service within the Group should count except in those subsidiaries where the parent group interest is very small.
Franchises run on British lines which seek to present a wholly British image but are locally owned
Cases which have cropped up include the Hilton Hotel, Bentleys restaurants and Habitat shops. The Advisory
Group intends to approve these on the grounds that they are perceived to be British even though ultimate ownership and control is local.
Hong Kong subsidiaries of UK companies who are in turn subsidiaries of companies based elsewhere
The Advisory Group consider that if a company is perceived to be non-British (as would be the case with, say, Mobil UK since it is answerable to Mobil USA) they would not qualify.
Professional firms and particularly the Hong Kong partnerships of International Accountants
Initially the Advisory Committee experienced great difficulty in assessing professional firms as these tend to be local partnerships with only a tenuous link with any parent body which involves little or no ownership. With FCO and DTI agreement paras (e) and (f) of the guidelines have now been amended to enable determination of the qualifications of the partnerships to become simpler.
3 The Hong Kong Government is anxious to publish the list of accepted British undertakings as soon as possible, but in view of the Governor's other commitments this will not be before the end of December. There is still a significant amount of work to be done to finalise the list and in practice mid-January publication may be more sensible.
4
Either way, the list may occasion adverse comment from companies not included and particularly from the large groups mentioned in (b) above where subsidiaries have not been approved because of the smallness of the British stake. The Governor will take the line that the list is not exclusive or comprehensive and that all applications and appeals for inclusion in the list will be considered on their merits.