Mr Ricketts, HKD
RESTRICTED
HKB 102/2
BQ
RES
5 * 1992
FROM: .CO Hum
DATE: 29 July 1992
/
HONG KONG AND SHANGHAI BANK: RELOCATION OF EXECUTIVES
1. After the Secretary of State's meeting with ExCo on 27 July Mr As Purves took me aside and gave me the attached piece of paper. you will see, it relates to problems which Hong Kong and Shanghai Bank Executives could face with the Inland Revenue following relocation to the UK.
2. Mr Purves said he was not asking for any action to be taken. He did not know whether the problem described in the paper would arise or not. But he wanted us to be forewarned in case it did.
3. I should be grateful if you could pass on the paper as you
It is not entirely think appropriate (to the Bank of England?). clear from the paper what the problem is, although it is possible to guess at it.
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Mr Stone.
CO Hum
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RESTRICTED
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