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B
d) Hong Kong subsidiaries of UK companies who are in
turn subsidiaries of companies based elsewhere
The Advisory Group consider that if a company is
perceived to be non-British (as would be the case with,
say, Mobil UK since it is answerable to Mobil USA) they would not qualify.
e) Professional firms and particularly the Hong Kong partnerships of International Accountants
Initially the Advisory Committee experienced great difficulty in assessing professional firms as these tend to be local partnerships with only a tenuous link
with any parent body which involves little or no ownership. With FCO and DTI agreement, paras (e) and (f) of the guidelines have now been amended to enable determination of the qualifications of the partnerships to become simpler.
5. The Advisory Group will produce a consolidated list showing the justification for the individual recommendations (for example registered in the UK; owned or managed by British citizens, etc). I shall submit this for Ministers'
approval as soon as it is ready. In the meantime, Lord Caithness may wish to glance at some of the attached working lists which indicate the types of companies so far proposed.
6. The Hong Kong Government is anxious to publish the list Mas soon as possible, but there is still a significant
amount of work to be done to finalise the list and in
practice mid-January is likely to be the earliest practicable date. The list may well attract adverse comment
from companies not included. The Governor will take the line that the list is not exclusive or comprehensive and that it will be open to companies to make a case for
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