PJ YAKC
Mr Edwards, Legal Adviser
vis
CONFIDENTIAL
Reference..
HKC 105/1
EXCHANGE FUND ORDINANCE APPROVED INVESTMENTS
من
A
x1
C 21
1 Hong Kong sought approval last year (telno 1243) to invest in interest-bearing shareholder loans. Legal Advisers questioned whether such an investment constituted a security We Left Hong Kong to Look further into the matter. (FCO telno 1586 to Hong Kong).
·
2. We have now received Hong Kong telno 2034 in which they report that they have decided to pursue the debenture route, with the investment now doubled to HK$30 million.
3. I should be grateful if you would advise whether the debenture investment Hong Kong now propose falls within the provisions of the Exchange Fund Ordinance and whether it can consequently be approved.
مسلية
bolige
M Wameshes, kegel bel
File attached
3 July 1989
Mr Holroyd
Mr Edwards
F B Holroyd
Hong Kong Department WH312
270 2653
Kuhanded 10/2
ыкі
has asked me to deal with this
2 I should be grateful if you
could attach the
Foling Legal Advisers' views referred to at xl above. !!(ms) In returning the papers please also attach a
105
CONFIDENTIAL
ttacked copy of the Ordinance (there is one on
CODE 18-77
105/1). 7/7/89.
HKC
C.A. homersley
Legal Advisers