(17260) Dd.897459 400m 12/72 G.W.B.Ltd. Gp.863
(16940) Dd.897300 400m 9/72 G.W.B.Ltd. Gp.863
NOTHING TO BE WRITTEN IN THIS MARGIN
CONFIDENTIAL
Registry No.
MF9/393/1
DRAFT SUBMISSION
Type 1 +
SECURITY CLASSIFICATION
To:-
Top Secret:
Seasct.
Confidential.
Restricted.
Unclassified.
PRIVACY MARKING
cc to
MR WILFORD,
PS/MR ROYLE
FROM
A C STUART
Telephone No. Ext.
Department
In Confidence
Mr Marshall
Mr Holland
Miss Pestell
FRD
HONG KONG STERLING AGREEMENT
1. Mr Koyle asked whether we could let the
Governor of Hong Kong know in confidence that the
Treasury were considering that new Agreements should
not be negotiated when the current Agreements, which
were negotiated in 1968, expire in September. We
recommend that the Governor should not be so
informed, for the following reasons:-
(a) The decision on what arrangements if any should
follow the expiry of the current Agreements
is now with the Prime Minister; no firm
recommendation has been put forward by the
Chancellor and indeed various options are before
the PM.
(b) Even if the PM decides that there should be no
more Agreements, it might well be decided to
make some special arrangements for Hong Kong,
but indications of this would be premature now;
(c) The Agreements have an MFN aspect, and although
Hong Kong's special circumstances both as a
dependent territory and as a substantial holder
of sterling might be agreed to justify her being
given an indication of our thinking ahead of
other Sterling Agreement signatories, it would
/not
CONFIDENTIAL