MINISTER FOR AEROSPACE & SHIPPING
cc Secretary A & S
Mr Archer MAR
Capt Manson
MAR
Mr Madigan
MAR
Mr Drukker
SP2
Mr Frost
SP1
Mr Goss
Ec$6
MR Y K PAO
There are three main issues here.
A
B
Should we open the UK and Hong Kong registers to foreign shipowners as Mr Pao suggests, and break the normal link between ownership and registry?
Our conclusion is that this might enlarge the register but would confer no significant benefit on the United Kingdom or on Hong Kong. Mr Pao has said it would not help him.
What are the possibilities of inducing Mr Pao to move his shipping enterprise to the UK and transfer his ships to the UK (or Hong Kong) register. Our conclusion is that he is most unlikely to do so because he would then be subject to UK law on tax, exchange control and migration of companies, quite apart from UK regulations on manning etc.
What can be done by relaxing manning requirements to induce Mr Pao to transfer his ships to a separate Hong Kong register. Mr Pao might be asked whether the Hong Kong Government's ideas described
in Section C below would be sufficient inducement
to him to register in Hong Kong. This would however mean his accepting British masters for his
ships.
2.
These matters are considered in more detail below.
A
SHOULD WE OPEN THE UK AND HONG KONG REGISTERS TO FOREIGN SHIPOWNERS?
3.
At present ships owned by companies whose principal place of business is outside the Commonwealth cannot, under
1.
No comments yet.
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