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ONE JUST BEING EXCLUDED AND THE OTHER NOT.
4. MTR AND KCR WERE BOTH REJECTED ON GROUNDS THAT THEY WERE NOT PERCEIVED AS BRITISH COMPANIES AND TO ACCEPT THEM WOULD CAUSE THE COMMITTEE'S JUDGEMENT TO BE CHALLENGED. THEIR SUBSTANTIAL PURCHASES FROM THE UK WERE NOT THOUGHT SUFFICIENT AS PART OF THEIR TOTAL TURNOVER TO QUALIFY UNDER D (III), AND WHEREAS THEY MIGHT QUALIFY UNDER D (I) (MTR MORE THAN KCR), THAT WAS
INSUFFICIENT.
5. HONG KONG AND CHINA GAS WAS DEFERRED. THEY WERE THOUGHT TO QUALIFY UNDER D (III),, BUT THE ONLY OTHER CRITERIA THAT THEY MIGHT MEET WAS OWNERSHIP: THEY HAD CLAIMED 30 PER CENT TO 40 PER CENT OF SHAREHOLDING OWNED BY BRITISH CITIZENS. THE COMMITTEE THOUGH THIS UNLIKELY AND ASKED ME TO WRITE TO THEM SEEKING EVIDENCE (THE FIRST TIME THE COMMITTEE HAS NOT ACCEPTED A COMPANY'S WORD ON SUCH MATTERS).
6
THERE WAS NO TIME TO CONSIDER THE FURTHER 28 OUTSTANDING COMPANIES. EFFORTS TO PERSUADE MEMBERS TO STAY ON AN EXTRA 10 MINUTES TO CLEAR THE MAJORITY OF THOSE THAT PRESENT NO PROBLEMS DID NOT SUCCEED. MOST COMMITTEE MEMBERS WILL BE AWAY IN THE COMING DAYS AND I AM UNLIKELY TO BE ABLE TO CONVENE A FURTHER MEETING UNTIL AFTER THE CHINESE NEW YEAR HOLIDAY (14 AND 15 FEBRUARY).
AS SOON AS I HAVE CONFIRMATION THAT THESE JUDGEMENTS ARE ACCEPTABLE (AND I WILL PURSUE WITH ANDREW BURNS THE SUBMITTING OF THEM TO LORD CAITHNESS), THEN WHARF AND ITS SUBSIDIARIES AND HUTCHISON AND HONG KONG ELECTRIC CAN BE ADDED TO OUR LIST FOR PRESENTATION TO THE GOVERNOR. THAT LIST I ASSUME COULD AND WOULD BE PUBLISHED AS SOON AS HE HAS APPROVED IT.
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