CONFIDENTIAL
CONFIDENTIAL
FM FCO
TO PRIORITY HONG KONG
TELNO 19
OF 04180OZ JANUARY 91
INFO ROUTINE BTC HONG KONG
HKD 340/5
RECEIVED IN REGISTRY
17 JAN 1991
DESK OFFICE
INDEX
TOP Cur Q DIST?
340/0
(2
063627
MDLOAN 7932
FOR TSANG, DIRECTOR OF ADMINISTRATION FROM PAUL HKD
YOUR TELNO 3619: BRITISH UNDERTAKINGS
1. TUR GAVE US AUTHORITY TO APPOINT AN AGENT TO CONDUCT SEARCHES ON HONG KONG SUBSIDIARIES OF BRITISH COMPANIES. IN THE EVENT, BTC AND DTI HAVE IDENTIFIED THE BULK OF THE COMPANIES PROPOSED WITHOUT THE NEED FOR COMPANY SEARCHES.
2. WE ARE LEFT WITH A SHORT LIST OF 53 COMPANIES WHICH ARE REPUTEDLY SUBSIDIARIES OF BRITISH REGISTERED COMPANIES. THE ADVISORY COMMITTEE HAVE ASKED FOR DETAILS OF THE PERCENTAGE SHAREHOLDING IN THE HONG KONG SUBSIDIARY BY THE BRITISH PARENT COMPANY IN ORDER TO SATISFY THEMSELVES THAT THE BRITISH CONNECTION IS SUFFICIENTLY CLOSE. THIS INFORMATION WILL REQUIRE SEARCHES. WE HAVE THEREFORE APPOINTED JORDANS AND SONS AS OUR AGENT AT A COST OF POUND STERLING 13.10 PER SEARCH. SOME COMPANIES ON THE LIST MAY REQUIRE MORE THAN ONE SEARCH (EG IF THEY ARE THE SUBSIDIARY OF A SUBSIDIARY) BUT WE HAVE ASKED JORDANS NOT TO MAKE MORE THAN TWO SEARCHES ON ANY ONE COMPANY WITHOUT PRIOR AUTHORITY. THE TOTAL DEBIT TO HKG SHOULD BE WELL WITHIN YOUR POUND STERLING 2000 BUDGET BUT WE SHALL OF COURSE CONTACT YOU IF THERE IS ANY PROSPECT OF EXCEEDING THIS LIMIT.
3. I TRUST THIS WILL BE IN ORDER.
HURD
YYYY
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