TNAG-2308-FCO40-3345-Future-of-Hong-Kong-shipping-register-1991 — Page 98

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it is not realistic to provide for a continuance of

acceptance on the register of vessels owned by companies.

incorporated or by individuals resident outside Hong

Kong. We acknowledge that some companies have long and

traditional links with Hong Kong and have had their ships.

registered here for very many years. A Hong Kong

Register, however, means that the traditional link will

have to be replaced by a genuine Hong Kong link.

3.10.

We do, however, see a place for transitional

arrangements concerning individual ships which are

already on the existing register. Provided they continue

to meet specified standards we recommend that ships on

the Hong Kong Register at an appropriate date may be

included in the new register. (Given that the present

economic life of a ship is little more than 10 years,

these transitional arrangements are likely to be no

longer required by about the year 2000.) The requirement

for owners of these ships to have a legally accountable

representative in Hong Kong would remain. It would not

be necessary for them to comply with the ownership or

principal place of business criteria (see para. 3.15

below).