CONFIDENTIAL
FM FCO
TO IMMEDIATE HONG KONG
TELNO 1508
OF 091845Z AUGUST 90
CONFIDENTIAL
050056 MDHOAN 3989
FOR ACTING GOVERNOR FROM MARSDEN
YOUR TELNO 2471: FREEZING OF KUWAITI AND IRAQI ASSETS: POSSIBLE
DISPOSALS IN HONG KONG BEFORE IMPLEMENTATION OF THE FREEZE
1.
IN PARA 2 OF TUR YOU POINT OUT THAT VIRTUALLY ALL THE
KUWAITI SELLING ORDERS OF WHICH YOU ARE AWARE EMANATED FROM THE KUWAIT INVESTMENT OFFICE (KIO) IN LONDON AND THAT THIS MIGHT NOT
BE COVERED BY THE UK ORDER WHICH ONLY APPLIES TO PERSONS
RESIDENT IN KUWAIT.
2. THE KUWAIT INVESTMENT OFFICE IS AN OVERSEAS ARM OF THE KUWAIT INVESTMENT AUTHORITY, WHICH IS OWNED BY THE KUWAITI GOVERNMENT. THE BANK OF ENGLAND HAVE CONFIRMED THAT THE KIO IS THEREFORE BEING REGARDED AS A RESIDENT OF KUWAIT FOR THE PURPOSE OF GIVING EFFECT TO DIRECTIONS RELATING TO THE FREEZING OF KUWAITI ASSETS (SEE PARA 7 OF THE BANK OF ENGLAND NOTICE OF 7 AUGUST).
HURD
YYYY
ΜΑΙΝ
IRAQ/KUWAIT
LIMITED
MED
HKD
WIAD
MR BURNS
NNNN
[-]
327
DISTRIBUTION
327
ADDDITIONAL
IRAQ/KUWAIT
MR FIFOOT, LEGAL ADVISERS MR COMPTON, BANK OF ENGLAND
(PASSED TO EMERGENCY UNIT)