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SECRET
SECRET
FM FCO
TO PRIORITY HONG KONG
TELNO 494
OF 13110OZ MARCH 92
1713
INFO PRIORITY PEKING, UKREP JLG HONG KONG
132
TOP COPY
Q DIST?
175576
MDLOAN 0325
нка 23311
PERSONAL FOR GOVERNOR.
1/5
OUR TELNO 474 HMOCS: COMPENSATION/INCENTIVE SCHEME
1.
YOU SHOULD BE AWARE, IN CASE THIS IS NOT ALREADY CLEAR FROM PREVIOUS TELEGRAMS, THAT THE TREASURY HAVE STILL NOT/NOT APPROVED THE DETAILS OF OUR COMPENSATION PROPOSAL. WE HAVE MANAGED TO SEE OFF SOME OF THEIR ARGUMENTS AND HOPE TO BE ABLE TO IMPROVE OUR NEGOTIATING POSITION BY A COST-EFFECTIVE SOLUTION TO THE PROBLEM OF CONTRACT OFFICERS, BUT THEY HAVE SO FAR GIVEN NO COMMITMENT TO SUPPORT ANY OF THE DETAILS OF WHAT WE ENVISAGE. WE ARE COMMITTED (AT MINISTERIAL LEVEL) TO KEEPING TREASURY OFFICIALS CLOSELY INFORMED AS WE REFINE OUR OPENING POSITION FOR THE CONSULATATION WITH HONG KONG HMOCS OFFICERS AND AS THOSE CONSULTATIONS PROCEED. DECISIONS WILL HAVE TO BE TAKEN WHEN THE OUTCOME OF THOSE CONSULTATIANS IS CLEAR
2.
WE SHALL BE IN TOUCH SOON WITH OUR IDEAS, AND TO SEEK YOUR ADVICE ABOUT HOW WE HANDLE THE CONSULTATIONS WITH HMOCS OFFICERS.
HURD
YYYY
DISTRIBUTION
20
MAIN
20
HKD
FED
RMD
PS/LORD CAITHNESS
SIR J COLES
MR BURNS
MR KIRBY
MR FISH
LEGAL ADVISERS//MISS BROOKS
NNNN
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