Oct.7 (GMM) Pirelli will decide next June whether or not to stay in Formula One.
The Italian marque's three-year contract to be the sport's sole tyre supplier expires at the end of next season.
He is quoted by Brazi's O Estado de S.Paulo: "The decision to renew the contract will be taken in June (2013).
"In principle we will proceed with the project, because we have achieved the goals we set technically and in terms of marketing, and I think for the public too.
"But we do need to understand better the Formula One (regulations) of 2014," Hembery admitted.
Asked if Pirelli would still be interested in F1 if the FIA opens up the rules to another tyre maker, he answered: "Why not, as it may be good for Formula One.
"But first we would need to know the details of the regulations."
F1 chief executive Bernie Ecclestone indicated he is happy if Pirelli stays on.
"It (the tyres) is a very important variable. And they are doing a good job -- don't you think the races are exciting?" he said.