(XF 9/26)
CONFIDENTIAL
R&PA.
20
Financial Policy & Aid Department FOREION & COMMONWEALTH OFFIC
LONDON, 9.7.1.
2 February 1969
16
Import Deposits
When I recently saw Patterson here la London (su ex- plained in my letter of 12 Febru...ry) he complained that the U.K. Customs insisted on taking payment of import deposits not from the foreign supplier or foreign bank but from the U.K. importer, This, he suggested, involved unnecessary trans-
actions.
2. We have confirmed with Customs that the only restriction on payment of import deposite is that they should be made in sterling. There is nothing to prevent a foreign supplier depositing the required money direct with CuBSOLS. Patterson'a impression was therefore incorrect.
3. I shall be grateful if this information can be paɛsed on to Patterson. I have noted (and discussed with Carter) the point implicit in paragraph 4 of your letter (6/6/2) of 21 January and if you think it advisable that on this or related matters we approached Sir J. Cowperthwaite direct, we will of course do 20. But in this case pince it is a small point arising out of Patterson's discussions with us and with the Bank, of which you and Cowperthwaite are a fait, it may be that no such difficulty arises.
(T.J. O'Brien)
X.P.V. Hannan, ad..
British Trade Commission,
HONG KONG.
(c.c.: Mr. Carter, Hong Kong Dept.)
12/
ONFIDENTIAL
HL 150
AKKO