G.F. 323
0003230
CONFIDENTIAL #
機密
MINISTER
OF STATE
TREASURY
(2) Payment of the amount due will be effected in sterling to the account stipulated for the purposes of the Sterling Agreement as soon as the amount has been agreed between the Bank of England and the Government of Hong Kong or its agent.
Advices
6. (1) In order to be able to benefit from the guarantee, advices, submitted in accordance with the implementation arrangements agreed for the purposes of the Sterling Agreement as modified by the following provisions of this paragraph, will have to be given to the Bank of England.
(2)
(3)
Such advices will be needed:
(a) as on the last working day in London in
October 1973 and each calendar month thereafter
up to and including the last working day of February 1974, and
(b) as at the close of business in London on
24 September 1973 and on the last working day
in London in March 1974.
For all purposes of this Declaration: (a)
conversions between currencies must be
made at market rates on the relevant reporting
days;
(b) securities must be valued in accordance with the statutory provisions of each of the funds,
agencies and institutions whose holdings make up total official external reserves except where there are either no such provisions, or a provision
for nominal valuation, in which case current
market value will be used. The bases of valuation
should be notified to the Bank of England.
3
CONFIDENTIAL
機密