TNAG-2635-FCO40-3826-Future-of-Hong-Kong-nationality-British-undertakings-1992 — Page 72

IN CONFIDENCE

C

BRITISH NATIONALITY (HONG KONG) ACT

RITISH UNDERTAKINGS: definitions (REVISED 28 January 1991)

a) a company or other corporate body incorporated under the law f the United Kingdom which operates in Hong Kong

b) a company or other corporate body incorporated in Hong Kong hich is wholly owned by a company referred to in (a) above

c) a company incorporated in Hong Kong which the Governor is atisfied is wholly owned or 50% of its equity capital is owned y British citizens and companies (or other bodies corporate) ncoporated under the laws of Hong Kong

d) a company engaged in trade or commerce or industry or roviding services in Hong Kong which in the opinion of the overnor satisfies two or more of the following conditions:

(i) the operations of the company are managed by British

e)

(ii)

(iii)

(iv)

citizens;

not less than 25% of the company's equity capital is owned by British citizens and companies (or other bodies corporate) incorporated under the laws of Hong Kong;

a significant volume of the company's activities in Hong Kong consists of trade in or the import of British goods or providing services by British citizens;

the company is engaged in a joint venture or joint ventures in Hong Kong with a British undertaking as here defined

an unincorporated association, firm or partnership engaged in rade, commerce or industry or the provision of services in Hong ong, where the Governor is satisfied 50% of its equity is owned by British citizens

f) an unincorporated association, firm or partnership engaged In trade, commerce or industry or the provision of services in Hong Kong which in the opinion of the Governor satisfies at

east 2 of the following conditions: -

(1)

(ii)

(iii)

(iv)

its operations are managed by British citizens

a significant volume of its activities in Hong Kong consist of trade in or the import of British goods or the provision of services by British citizens

it is engaged in a joint venture or joint ventures in Hong Kong with a British undertaking as here defined

not less than 25% of the partnerships equity is owned by British citizens and companies (or other bodies corporate) incorporated under the laws of Hong Kong