XN000022-1991-01-07 — Page 6

5

MONDAY, JANUARY 7, 1991

ALTHOUGH I

WOULD PRESENTLY

'CRIPPLED

"IT SHOULD ALSO BE CLEARLY UNDERSTOOD THAT, NOT WISH TO PREDICT THE FINAL OUTCOME OF THE BILL WHICH IS BEFORE THE LEGISLATIVE COUNCIL, WE WILL NOT BE PRODUCING A BILL'.

AGAIN "I WOULD WISH TO TAKE THIS OPPORTUNITY TO STATE ONCE

THAT EVEN BECAUSE IT IS OF VITAL IMPORTANCE TO LEGAL PRACTITIONERS -

THE LEGISLATION ITSELF IF THERE IS A FREEZE PROVISION IN THE BILL WILL BE EFFECTIVE IMMEDIATELY IT IS BROUGHT INTO OPERATION.

-

"IT IS NOT THE BILL WHICH IS FROZEN, FOLLOWS IT, BUT ONLY PRE-EXISTING LEGISLATION SHORT PERIOD, MR MATHEWS SAID.

MAKE

-

OR

LEGISLATION

WHICH

AND THAT ONLY FOR A

—

TO

NO, ONE

"SO I URGE YOU ALL JUDGES, BARRISTERS, AND SOLICITORS YOURSELVES THOROUGHLY FAMILIAR WITH THE BILL OF RIGHTS. IN HONG KONG SHOULD BE DISADVANTAGED BECAUSE OF HIS LAWYER'S IGNORANCE OF HIS FUNDAMENTAL RIGHTS.

++

-

OUT

ON EUROPE AND 1992, HE SAID ANY LAW FIRM WHICH HELD ITSELF

BUSINESS, ADVISE ITS CLIENTS ON INTERNATIONAL AS COMPETENT TO

IF IT WAS TO DO ITS JOB PROPERLY INVESTMENT OR LITIGATION WOULD NEED

THAT WOULD BE PROVIDED EITHER IN - ACCESS TO EUROPEAN LAW EXPERIENCE. HOUSE OR BY THE BAR OR BY ASSOCIATION WITH ANOTHER FIRM, WHETHER LOCAL OR INTERNATIONAL, WHICH HAD A SOUND KNOWLEDGE OF EUROPEAN LAW.

FOR "THIS IS NOT, OF COURSE, TO SAY THAT THERE WILL BE NO ROOM THE PURELY LOCAL PRACTICE, BUT IT IS TO SAY THAT IF HONG KONG IS TO THE INTERNATIONAL REMAIN IN THE FOREFRONT OF LEGAL PRACTICE SO THAT BUSINESSMAN CAN OBTAIN THE ADVICE THAT HE WANTS WHEN HE WANTS IT, THEN TRULY INTERNATIONAL LAW FIRMS MUST EXIST HERE.

AN

"IF THEY DO NOT, THEN HONG KONG MUST INEVITABLY LOSE OUT AS

PERHAPS MORE INTERNATIONAL BUSINESS CENTRE TO THE ADVANTAGE OF OTHER - FORWARD LOOKING CENTRES.

"HONG

—

AN KONG IS IDEALLY PLACED TO STRENGTHEN ITS POSITION AS

WE SHOULD INTERNATIONAL CENTRE FOR THE PROVISION OF LEGAL SERVICES.

DO, ALTHOUGH SEIZE THE OPPORTUNITIES AVAILABLE TO US BEFORE OTHERS SOME OTHERS ARE ALREADY SHOWING US THE WAY," MR MATHEWS SAID.

AS FAR AS EUROPE WAS CONCERNED, HE SAID THE FACT OF THE

MARKET

1992 IN WAS THAT

OF THE SINGLE THE COMPLETION DEREGULATION OF FINANCIAL MARKETS WOULD MILITATE IN FAVOUR OF NATIONAL PRACTICES.

MATTER AND THE MULTI-

-

WANT TO BE A PART OF THOSE "DO WE AS LAWYERS IN HONG KONG

COMMUNITY BUT PRACTICES, WHICH WILL ENGAGE NOT ONLY IN THE EUROPEAN WORLDWIDE, OR DO WE WISH TO RISK BEING ISOLATED?"

THE

UNDER

OR

GATT,

TO

EXTEND

THOSE

TURNING TO THE URUGUAY ROUND OF TRADE NEGOTIATIONS HELD AUSPICES OF THE GENERAL AGREEMENT ON TARIFFS AND TRADE,

AMONG OTHER THINGS, MR MATHEWS SAID THE NEGOTIATIONS AIMED, TO TRADE IN SERVICES RULES AND DISCIPLINES BASED ON GOVERNED TRADE IN GOODS UNDER THE GATT, WITH A VIEW TO PROMOTING TRADE IN SERVICES ON A COMPETITIVE AND NON-DISCRIMINATORY BASIS.

WHICH

/"ASSUMING THAT