Miss Brooks Legal Advisers
HONG KONG GOVERNMENT BOND ISSUES
Reference
16
HAB 101/1
M
A
B
1.
The Hong Kong Government has started issuing bonds with a two year maturity. This is an extension of their scheme to issue Exchange Fund certificates of 90 and 180 day maturity and is designed to promote the embryonic Hong Kong dollar bond market. The Treasury have picked up this issue and are concerned to ensure that there is nothing in the documentation that could make HMG in anyway liable should the Hong Kong Government be unable or unwilling to meet the repayments. (The Treasury's prime concern in fact relates to longer term bonds which might straddle 1997. They initially thought that these bond issues might be of that duration).
From my
2. I should be most grateful for your advice on whether the attached documentation, and copy of the Loans Ordinance, would in anyway signal possible involvement by HMG. layman's reading of both, I think this is not the case.
السلالم
Mikl v Stare.
M V Stone
Hong Kong Department
WH 304
270 2651
22 January 1992
fur Stone
as firm
form on
I com see, only be
Hong Kong were
1. HING wend nivohred of the general reveries of Hary
exhausted. Thus
b
mart mikkely
2. Mr McIntyre (Freasmy) refers to paragraph 60) The HKG Bond Programme whereby the Bondy & all the interes & changes there on
& Enhal MVSABP
will be
The
changed on reveres & assets of Hong Kong. This reflects Panay ditre party caph (3) of section 5 of the hooms Grohmance 1975 (& see also section 4 of the Public France Ordnance 1983
CODE 18-77
S Brook, 23
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