the Hong Kong business of the said nine Hong Kong branches". This is not elegant and no doubt there are many better ways of drafting it; it is however moderately economical.
4.
The Commissioner of Banking is apparently satisifed with the arrangements and that there are sufficient safeguards. I do not think that having sought his view, we could advise the Secretary of State otherwise than to accept it. the bill is amended in the sense of paragraph 3 above, we could agree to it being proceeded with without further reference to the Secretary of State (paragraph 4 of Mr Allcock's letter referred).
of
Paul Fifoot
Legal Advisers