arrangements could obviously be conceived which
would better suit the circumstances of individual
holders in particular respects. But we judged, and
we continue to think, that the present
arrangements (which incorporate a substantial
cut in MSH) is the most appropriate in all the
circumstances.
8.
We cannot therefore share your view (in
para 5 of your tel no 594) that Hong Kong
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has been unreasonably treated in this respect and
would like to reiterate the sentiment of the
last sentence of our tel no 71 of 17 May.
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5
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