107
Foreign and Commonwealth Office
London SW1A 2AH
HKK 100/5
RECEIVED
0.51
16 NOV 1983
Telephone 01-
DESK
INDEX
"STRY
Quon Taken
DW A Blye Esq CMG CBE
Secretary for Monetary Affairs
Government Secretariat
HONG KONG
Your reference
Our reference
HKK 100/5
Date
14 November 1983
HANG LUNG BANK (ACQUISITION) ORDINANCE 1983 (NO 56/1983)
ENIT
This Ordinance was submitted to us under cover of Jennie Chok's undated letter, which was received here on 10 October 1983.
1.
2. We have advised the Secretary of State that this Ordinance should not be disallowed, and shall inform Councils Branch of this in the usual way. However, the Department's Legal Counsellor has advised that we should ensure that the regulations made under Section 9 of the Ordinance will provide for the payment of prompt, adequate and effective compensation to the shareholders. Failure to do so could result in claims against the United Kingdom by the Governments of any foreign shareholders.
I should therefore be grateful if you would take this point into consideration when the regulations are drafted.
3.
RJ F Hoare
Hong Kong Department