CODE 18-77
PJYAIB
Reference
CONFIDENTIAL
18.
Mr D Edwards,
Legal Advisers
HKCIOS/1
HONG KONG EXCHANGE FUND ORDINANCE
1.
We spoke about Hong Kong telno 1453 I have now had the comments of both the England. I attach a
a copy of Mr Elston's
(copy attached) last week. Treasury and the Bank of
(Bank of England) comments.
Miss O'Mara (Treasury) also explained to me on the phone that she had no difficulty with the content of the telegram and would be very much guided by the Bank's views. I have asked the Treasury to confirm this in writing, but Miss O'Mara is on leave for two weeks.
2. I attach the background papers, I have flagged them up as follows:
A:
B:
Hong Kong telno 804, drawing attention to the fact that section 3 (4) of the Exchange Fund Ordinance refers only to secured borrowings by the Exchange Fund.
+ 6-1 15/3!
Mr Morris' minute to Mr Whomersley for advice and Mr Whomersley's reply.
18
FOLLO
Copy of the Exchange Fund Ordinance and of the revised (Front)
editions of the Laws Ordinance.
file
C:
D:
Mr Whomersley's further advice.(24/3)
E:
Advice from the Bank of England. (3/4)
F
Advice from the Treasury.
(13/4)
FCO telno 914 based on the advice of those consulted
G:
15
No 1453
3. I would now be grateful for your further advice on Hong Kong's latest telegram and their legal advice on this question (at flag ). Should you require further papers on this question, please let me know.
17 May 1989
Carma Elliot
C Elliot
(Miss)
270 2653
Hong Kong Department WH312
CONFIDENTIAL