F
CONFIDENTIAL
Annex I Section VII: Monetary System
CA Branch Liaison Officer: PAS(CA)5
10th Edition (June 1990)
Whether the
Chinese need to
Item
be consulted/
& JD/BL reference
Action
informed and
Officer*
if so, timing
Date for HMG/HKG
to start deliberation
a. Replace Hong Kong
Coinage Orders 1936 to 1978 by Hong Kong legislation
*SMA
(JD 101 and 103}
Yes
Present Position
1990
Specification and withdrawal of coins as legal tender are subject to the approval of the Commissioners of HM Treasury and a Secretary of State. Such power will need to be transferred to the executive or the legislature before 1997 to enable 'Hong Kong currency bearing references inappropriate to the status of Hong Kong as a Special Administrative Region of the People's Republic of China' to be 'progressively replaced and withdrawn from circulation' (JD 103).
* Please mark an '*' against the officer with overall responsibility
CL8
CONFIDENTIAL
Relevant Considerations
Target Completion Date
Items (b), (c) and (d)
1991