COVERING - SECRET
RECEIVED
1249
26 OCT 1973
PH Mchall
Treasury Chambers Parliament Street London SW1P 3AG
PHR Marshall Esq
Foreign and Commonwealth Office
Great George Street
LONDON SW1
Telephone 01-930 1234 ext
Our Ref
2F(RMSA)120/01
Wear Mayhill, Мацкай,
STERLING ARRANGEMENTS
{
26 October 1973
mk 9/548/1 Copy to E/ Antichin
"/ Irelans
../ thing kang
Me Franklin, Economnits
M Aust
SWPD
RID
HKIOD Ꮉ
negal Arnier
Ний
BUL 26/x
1
I am enclosing a copy of the submission on the modifications proposed in the arrangements with Hong Kong, Ireland and Australia on the basis that was substantially agreed at the recent SARC meeting. We now need to decide how to communicate these modifications to the countries concerned on the assumption that the Chancellor accepts our recommendation. I hope that your lawyers will agree that we need not issue amended Declarations and that our decisions can be formally communicated in the form of letters signed by Treasury officials. Great care will plainly be needed in drafting since the se communications will, at the relevant points, override the provisions of the Declaration. I have now set drafting in hand on the basis that we communicate by letter, but I should be grateful for confirmation that you and your legal advisers regard this as a satisfactory course. We will, of course, show you drafte in due course.
I am copying this letter to Payton at the Bank.
Yours sincerely,
Балитика
Walker
D A WALKER
SECRET
200