2.
As for relocation, we took the view that, following the Charter amendment in 1980 which removed the previous requirement that the Bank should be resident in the United Kingdom and permitted it to be resident in any part of the world, the fact that it was proposed to transfer the head-quarters from Home Kong to Jersey was immaterial. The suggestion that the BBME might be re-incorporated in Jersey through the grant of a Supplemental Charter by The Queen in Her capacity as Duke of Normandy was most unusual and we were unaware of any precedent for such a grant. Charters are granted by The Queen as Sovereign of the United Kingdom and a number of chartered institutions (eg the British School at Rome) operate outside the United Kingdom.
I should be most grateful if you, and the others to whom this letter is copied, would let me have your comments on these proposals as soon as possible. It would be particularly helpful to have Treasury assurance that no objection is seen to the proposition that the BBME Charter should cease to be limited as to time.
I am copying this letter to P.F. Ricketts (Hong Kong Department FCO), and John Wake (Home Office).
R.P. BULLING