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Mr Murray
Mary
HONG KONG COINAGE:
1.
CONFIDENTIAL
agic sq
REGA
OFFICE
I
DEMONETIZATION OF THE 544 COIN
RECHY
Actini Tukan
--
In a letter dated 10 July the Hong Kong Government sought our agreement to an amendment to the Hong Kong (Coinage) Order 1936 to permit the demonetization of the 50 cent coin in circulation since 1951 which has now been superseded by a more recent issue.
2.
The 1936 Order, which governs the issuance and demonetization of coinage in Hong Kong, gives the Governor general powers to authorise new coinage but only the power to demonetize those coins included in the Schedule to the 1936 Order. There is no provision for the demonetization of coins issued after 1936, and hence the legal advice from Hong Kong, with which the Department's Legal Adviser concurs, is that the Governor has no powers to demonetize the 1951
cent coin.
3. A new Order in Council has now been drafted in consultation with Legal Advisers, HM Treasury and the Treasury Solicitor. This will enable the Governor to demonetize any coin which is
legal tender in Hong Kong.
4. Under the terms of DSP 36.9.11, an Order of this type does not need to be approved by a Minister, but it does need to be authorised by an Under-Secretary before being sent to the Privy Council Office. The authorising Under-Secretary should then inform the appropriate Minister of what has been done. I therefore submit the draft Order for your approval and a draft minute from you to Lord Goronwy- Roberts informing him of your action. The Privy Council Office
concur.
Rauchen
8 December 1978
RJT McLaren
Hong Kong and General Department
Approved.
CONFIDENTIAL