TNAG-2056-FCO40-2934-Hong-Kong-and-the-Organisation-for-Economic-Cooperation-and--1990 — Page 130

Disadvantages

5. On the other hand, Territories who want to benefit from OECD Code

obligations would have to be subjected to the same disciplines as all

the other members. This would mean regular intensive scrutiny by the OECD committees concerned (though in practical terms the UK would

probably have to answer on behalf of the Crown Territories and the

Dependent Territories). While the thrust of the Codes' examinations

is on liberalisation rather than the regulatory environment, pressure arising on the latter could not be excluded in other fora such as the

Fiscal Affairs Committee. The relevant committees could well take a

close look at discriminatory practices such as the real estate restrictions imposed by the Channel Islands on non-residents.

6. I have deliberately covered these pros and cons in fairly general

terms. If they whet the appetite of any of the territories addressed

who hitherto have been unaware of the OECD possibilities, I stand by to provide additional information and to field any enquiries.

most aspects it might be less time-consuming to address enquiries directly to Robert Gordon at UKDel OECD in Paris, copying to me.

But on

Procedure

7. Once all legal aspects are resolved (we are pursuing this with the OECD Legal Service), to make the Convention and Instruments applicable