PJYAFW
Mr Edwards
Legal Advisers
COVERING SECRET
EXCHANGE FUND ORDINANCE
.....
Reference......................
1.
I should be grateful for your comments and advice on how best to solve this delicate problem. I attach a copy of the 1987 tel referred to in para 5 together with a copy of the submission and resulting telegram to Hong Kong.
2=
I have already sent a copy of telno 804 to Miss O'Mara in the Treasury, for her comments but she has yet to respond.
HKCIOS
:/
व्हयड
15 March 1989
Armani
P J Morris
Hong Kong Department WH312
270 2653
CODE 18-77
Mr Mori
1. This came to me in Mr Edwards' absence. I should
be grateful if you
could attack a copy of the Exchange Fund Ordinance and of the Revised Editions of the Laws Ordinance.
ale
2. At first sight, this looks rather serious to me: if unsecured borrowings (which presumably ід more expensive) are
now out with the limit set by the EFO, then this means that the HKG can borrow as much as
they want,