TNAG-1926-FCO40-2742-Future-of-Hong-Kong-Sino-British-Joint-Liaison-Group-sub-gro-1989 — Page 19

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designate, in addition to its

alternate

representative,

such

and advisers as it deems

representatives

This Rule would accommodate any form of

necessary.

representation which would be appropriate for the Hong

Kong Government before 1997

or the SAR

Government

thereafter.

6.

Article V(a) of the Agreement provides in effect

that the financial interest in INTELSAT of each Signatory

shall be in proportion to its investment share. Article

V(b) of the Agreement and Article 6(a) of the Operating

Agreement provide as a general principle that each

Signatory shall have an investment share in INTELSAT equal

to its percentage of all utilization of the INTELSAT space

Article 6(b) of the Operating

calculation of a

segment by all Signatories.

Agreement provides a method of

Signatory's utilization of the space segment. Article

IX(b) (iii) of the Agreement provides a method for

determining the minimum investment share in INTELSAT which

entitles a Signatory to be represented by a Governor on

the Board of Governors. The Board is responsible for the

design,

establishment,

development,

construction,

operation and maintenance of the INTELSAT space segment

(Agreement, Article X(a)). By virtue of its current

investment share, the UK Signatory is entitled to be

represented on the Board of Governors. The PRC Signatory

is also currently represented on the Board of Governors.

It should be noted

that,

under

arrangements for