:
Rec
CYPHER/CAT A
CONFIDENTIAL
REGISTT. M
10JAN.//3
PA.
FM F C O 041153Z
4kxsh
2
CONFIDENTIAL
ORWELL
1973
TO ROUTINE ST. HELENA TELEGRAM NUMBER 4 OF 4 JANUARY/AND TO SEYCHELLES, H.C. WESTERN PACIFIC, BRITISH VIRGIN ISLANDS,
45
CAYMAN ISLANDS, FALKLAND ISLANDS, GILBERT AND ELLICE ISLANDS, MONTSERRAT, TURKS AND CAICOS ISLANDS.
MIPT:
STERLING AGREEMENT,
IF THE AVERAGE STERLING/U.S. DOLLAR RATE DURING A WORKING PERIOD (NORMALLY A CALENDAR MONTH) RISES OR FALLS BY MORE THAN ONE PER CENT FROM THE RATE AT WHICH A SETTLEMENT WAS LAST MADE A FURTHER
SETTLEMENT WILL BE MADE, 1.E. ADDITIONAL PAYMENTS FROM H.M.G. WILL BECOME DUE IN THE EVENT OF SUCH A FALL BUT PAYMENTS TO H.M.G, WILL. BECOME DUE IN THE EVENT OF SUCH A RISE PROVIDED THAT:
A. THE TOTAL PAYMENTS TO HMG BY YOU WILL IN NO CIRCUMSTANCES
EXCEED THE PAYMENTS MADE TO YOU UNDER THE AGREEMENT AND
B. NO PAYMENTS TO H.M.G. WILL BECOME DUE IN RESPECT OF ANY RISE
IN THE AVERAGE RATE ABOVE U.3. DOLLARS 2.40.
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