RESTRICTED
XCR(92)11
22
The proposal for associations between foreign law firms and local firms to share not only fees, but also premises and resources, will ensure that the associations are efficient and effective, and presents a practical alternative to the Government's employment proposal.
23
The Director-General of Trade has examined both Reports and is of the opinion that the proposed schemes are consistent with the obligations of the draft GATS.
24
It is recommended that the Reports be approved in principle and implemented by amendments to the Ordinance and subsidiary legislation.
FINANCIAL AND STAFFING IMPLICATIONS
25
There are no financial or staffing implications.
PUBLIC CONSULTATION
26
In July 1991, the Law Society circulated drafts of the Reports. They received favourable responses from Australian, United Kingdom and American law firms, and from the Australian and American Chambers of Commerce in Hong Kong. The main objection was to the 1:1 ratio of foreign lawyers in association with local lawyers: it was felt that this was too restrictive. The Law Society considered the responses, and where appropriate, incorporated the suggestions in the Final Reports, which have been endorsed by the Law Society Council. However, the Law Society wishes to retain the 1:1 ratio to ensure that the role of a local law firm in an association with a foreign law firm was not diluted by a larger number of foreign lawyers in the foreign law firm. It is not recommended that the proposed ratio be altered, and the Law Society's position can be supported.
PUBLIC REACTION
27
The public is not likely to be interested in the Reports, but the business and legal community will welcome the end to this controversy and speedy implementation of the Reports.
No comments yet.
Private notes are available after approval.