"CONFIDENTIAL

6.

4.

I have discussed this matter with Mr Rushford and he is broadly in agreement with my assessment of the situation and with the conclusions drawn. When you have had time to consider this submission further you might like to discuss it with us.

Arn Greenwood

A M Greenwood

15 June 1977

cc: Mr J A B Stewart (Hong Kong)

Mr Rushford (Legal Advisers)

CONFIDENTIAL

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