CONFIDENTIAL
FM HONG KONG
TO PRIORITY FCO
TELNO 1223
OF 180945Z APRIL 89
CONFIDENTIAL
4
HKCIOS /i
162403
MDLIAN 3844
TOP COPY Q DIST ?
FOR THE ATTENTION OF PAUL, HKD
13
YRTELNO 746: EXCHANGE FUND ORDINANCE
1. YOU MAY WISH TO NOTE THAT THE TOTAL AMOUNT OF MONEY TRANSFERRED FROM THE GENERAL REVENUE TO THE EXCHANGE FUND NOW STANDS AT HKD47.5
BILLION. IN ADDITION, FURTHER INFLOWS OF REVENUE HAVE INCREASED THE TREASURY'S HOLDING OF SURPLUS CASH TO HKD18.5 BILLION. WE WOULD WISH
TO TRANSFER THE BULK OF THIS ALSO TO THE EXCHANGE FUND AS SOON AS WE
RECEIVE YOUR AGREEMENT ON OUR INTERPRETATION ON THE APPLICABILITY OF THE BORROWING LIMIT.
WILSON
YYYY
MAIN
23
LIMITED
HKD
LEGAL ADVISERS
NNNN
DISTRIBUTION
23
MR GILLMORE
MR MCLAREN