CONFIDENTIAL
HKB 233 11
(411)
142473 MDLOAN 9112
CONFIDENTIAL
FM FCO
TO PRIORITY HONG KONG
TELNO 1412
OF 31170OZ JULY 91
110
g
STRIBUTIOTOP COPY TOP BCAVIST? / Q DIST ?/
35
НИВ 233 12
YOUR TELNOS 2422 AND 2423: HMOCS MATTERS: COMPENSATION/INCENTIVE SCHEME ARRANGEMENTS
1.
THANK YOU FOR THE HELPFUL CLARIFICATION IN FIRST TUR. IT WAS USEFUL FOR US TO BE REMINDED OF HMOCS MEMBERS' PRIME OBJECTIVES, BUT IT REMAINS OUR VIEW THAT OUR RESPONSIBILITY TO IMPLEMENT THE JOINT DECLARATION, TO ENSURE A SMOOTH TRANSITION AND TO MINIMISE THE DIVISIVENESS OF ANY SCHEME MEANS THAT WE CAN NOT OFFER THE OPTION OF EARLY RETIREMENT IN 1997 WITH IMMEDIATE PAYMENT OF PENSIONS.
2.
IN OTHER WORDS THIS IS A RED HERRING BUT ONE WHOSE BONES MAY STICK IN HMOCS MEMBERS' THROATS.
HOGG
YYYY
ΜΑΙΝ
18
LIMITED
HKD
PS/LORD CAITHNESS
ADDITIONAL
1
MR FISH, ODA, PENSIONS
NNNN
DISTRIBUTION
19
SIR J COLES
MR BURNS
PAGE 1 CONFIDENTIAL