TNAG-2449-FCO40-3565-Legislative-Council-of-Hong-Kong-1992 — Page 44

1992-12-04 19:04 COMMS OFFICE (GOVT HOUSE)

*1992

852 526 0995 P.19

PRESS STATEMENT

Commenting on the statement issued by the Hong Kong

and Macau Affairs office in Peking today, a Hong Kong

Government spokesman said:

"The Joint Declaration makes clear that after the establishment of the Hong Kong Special Administrative Region, the laws previously in force in Hong Kong, which include the law of contract, shall be maintained, save for any that contravene the Basic Law and subject to any amendment by the Hong Kong Special Administrative Region Legislature.

According to the Basic Law, contracts which are valid under Hong Kong's existing laws will continue to be valid and recognised and protected by the Hong Kong Special

Administrative Region, provided that they do not contravene the

Basic Law.

As a matter of current practice, we discuss major Government franchises and contracts straddling 1997 with the

These discussions Chinese side of the Joint Liaison Group.

have been productive in the past and we are glad to note that the Chinese side intend in future to take a positive attitude to post-1997 investment in Hong Kong.'

30 November 1992

26