TNAG-2308-FCO40-3345-Future-of-Hong-Kong-shipping-register-1991 — Page 116

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provision either in the proposed new MSA or by

means of an Order under the Hong Kong Act

1985. HMG would, nevertheless, be ultimately

responsible for Hong Kong ships until 1997.

(b)

Any

Ownership of a ship registered in Hong Kong:

The proposed ownership criteria for ships

registered in Hong Kong as against criteria

for the British ships are, in general, more

restrictive as regards companies.

commercial or other advantage a company

incorporated in the UK or in a Dependent

Territory may gain from its ships being on the

existing Hong Kong Register will, in the long

run, disappear when the link is to Hong Kong

rather than the wider UK and Dependent

Territories network (although transitional

--

arrangements for the ship, but not the

company, are proposed). As regards the

individual ownership of Hong Kong ships, the

criteria will be totally different. At

present such ownership is basically limited to

persons being British nationals. The new Hong

Kong Register will provide for ownership by an