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SULMITTED IN VCCORDANCE WITH THE IMPLEMENTATION AʼRANGEMENTS AGREED FOR THE PU POSES OF THE YERLIN. AGREEMENT AS MODIFIED BY THE
FOLLO .ING PROVISION OF THIS PARAGRAPH, WILL HAVE TO BE GIVEN TO
THE BANK OF ENGLAND.
(2) SUCH ADVICES WILL BE NEEDED:
(A) AS ON THE LAST WORKING DAY IN LONDON IN OCTOBER 1:73 AND EACH CALENDAR MOLTH THEREAFTER UP TO AND INCLUDING THE LAST WORKING DAY OF FEBRUARY 974, AND
B) AS AT THE CLOSE OF BUSINESS IN LONDON ON 24 SEPTEMBER 1973 AND ON THE LAST WO.KING DAY IN LONDON IN MARCH 1974.
(3) FOR ALL PURPOSES OF THIS DECLARATION:
(·) CONVERSIONS BETWEEN CURRENCIES MUST BE MADE AT MARKET RATES ON THE RELEVANT REPORTING DAYS:
(3) SECURITIES MUST BE VALUED IN ACCORDANCE WITH THE STATUTORY PRO ISTONS OF EACH OF THE FUNDS, ACERCIES AND INSTITUTIONS WHOSE HOLDINGS MAKE UP TOTAL OFFICIAL EXTERN L R.SERVES EXCEPT VIERE THERE ARE EITHER NO SUCH PROVISIONS, OR A ROVISION FOR NOMINAL VÄLJATION, TH WITCH CASE CURRENT ARKET VALUE ILL BE USED. THE LASES OF VALUATION SHOULD BE NOTIFIED TO THE BAN. OF ENGLAND. (C) OVERDRAFTS AND SHORT TERM ADVALCES IN STERLING MUST BE NETTED AGAINST OFFICIAL STERLING RESERVES AND TOTAL OFFICIAL EXTERNAL
RESERVES. OVELDRAFTS AND SHORT-TERM ADVANCES I OTHE CURRENCIES MUST BE NETTE AG INST TOTAL OFFICIAL EXTERNAL RESERVES.
NOTIFICATION OF AVERAGE RATE
7. THE BANK OF ENGLAND ILL AT THE END OF EACH MONTH ADVISE THE GOVERNMENT OF HONG KONG, UR ITS AGENT, OF THE CUMULATIVE
AVERAGE RATE.
ENTRY INTO E-FECT AND DURATION
8. THE PROVISION OF THIS DECLARATION WILL COME TO EFFECT
ON 25 SEPTEMBE: 1973 AND ILL REMAIN IN EFFECT UNTIL 31 MARCH 197 ULESS EXTENDED ITH OR WITHOUT MODIFICATIONS FOR A
(SGD) JOM. HOTT
QURTHER PERIOD.
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/MADE AT LONDON