Ed. (3746)
NOTHING TO BE WRITTEN IN THIS MARGIN
CONFIDENTIAL
Registry
No. HWB.21/5.
SECURITY CLASSIFICATION
Top-Secret.
Secret:
Confidential.
stricted:-
PRIVACY MARKING
In Confidence
DRAFT
To:--
R.A. Dickinson Esq.,
Export Credits Guarantee Department,
Barrington House,
59-67, Gresham Street,
London, E.C.2.
fls
cces شارية
Type 1 +
29
From
Mr. H.P. Hall
Telephone No. & Ext.
Department
Hong Kong Tunnel
In your letter reference SL/CW 24126/35 Pt. 3 of
5 October you raised various queries about the Governor's
need to consult the Legislative Council over the securi ty
you require for the Government's guarantee.
2.
Letters Patent issued for Hong Kong provide that
the Governor legislates "with the advice and consent of"
the Legislative Council. The Legislative Council is
accordingly the Colony's sole taxing and spending authority
so that acceptance of the liability envisaged in the present
proposals must be with the Council's consent. The first
step must be to put the proposals before the Standing
Finance Committee of the Legislative Council; if the
Committee agrees, a resolution will then be moved in the
Legislative Council seeking the Council's approval of the
proposals in general terms.
3. The Governor could not conceal any details of the
proposals from the Standing Finance Committee; it would
be necessary to explain in full the nature of the guarantee
and the requirement that it is secured on London assets
Since the terms now proposed
of the Hong Kong Government.
CONFIDENTIAL
/are likely