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I can see one possible snag about applying the Scheme to Hong Kong. This would be that owing to the "Lease problem" the rates of premium might have to be fairly high. If the rates had to be at a uniquely high level this might simply draw attention to the risks involved in Hong Kong, which might be undesirable.
On the other hand, I would not have thought that the risks in Hong Kong are, on a sober assessment, any worse than they are in many independent countries, and therefore it seems to me unlikely that this is a valid obstacle. In any case it should be possible to get some idea of what the rates of premium would have to be by observing what rates are charged by other countries which already operate similar schemes.
Anthony Royle, Esq. M.P., Foreign & Commonwealth Office.
Yours ever, Beli