than the rate on one particular date. It is logical to use a current exchange rate.
Q13 Why does JD 72 say "may" all remain in employment?
A13 Simply to make clear that this is voluntary as far as the officers are concerned: they all have the right to choose to leave or to choose to stay.
Q14 What if the SARG imposes punitive taxation rates on the salaries and pensions of former HMOCS officers?
A14 We have no reason to suppose that this is likely. The JD and BL provide that the SAR shall have independent finances financial matters; shall use its financial revenues exclusively for its own purposes and not hand them over to the CPG (which is not to levy taxes on the SAR); and for the maintenance of the system by which taxation must be approved
by the legislature. The BL adds that the SAR should take the low tax policy previously pursued in Hong Kong as reference. Moreover any proposal to levy discriminatory
taxes on former HMOCS officers or other former crown servants would raise the question of the implementation of
Chapter IV of Annex I of the JD (JD 72) and of Article 100
of the BL.
Q14 How do you see the prospects after 1997?
A14 We continue to see the JD as providing a sound base for Hong Kong's future prosperity and stability. Beyond that fundamental point, none of us can predict the future. Sino/British discussions do not remain confidential for
long. You know as well as we that uncertain political developments in Hong Kong may affect the practical working
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