(ii) A private sector scheme to safeguard pensions is
unlikely to be feasible and does not merit further
consideration. If Mr Portillo does not accept this, we could agree to continue exploring this option with Hong Kong Bank
for a few more weeks, but on the condition that it does not
delay decisions being taken on the package.
(iii) HMG should present a revised compensation proposal. If the Treasury do not agree to Option C, OPD (K) can decide.
(iv) The amendments to the SPOS regulations should be implemented
www
we would prefer that they be implemented immediately but as part of a package would also be acceptable.
PF Ricketts
sub.overs.civils.ADM
JEB