NOV 09 '93 19:30 UKDEL
ស
P.3/3
(iii)
6.
In paragraph 4(b) delete the words in the first four lines between "note" and "the assurances". (Zhang confirmed that he would want a reference here to be to the People's Republic of China, so I think we would ourselves want to press for this deletion anyway.
Zhang also had a suggestion for amending paragraph 7 of the MOU to reflect the wording in BI of
in BI of the Memorandum of Services, so that it would begin as follows: "The Organizations note that the Governments hereby delegate to the Hong Kong Government acting through the Hong Kong Monetary Authority sole responsibility and authority for the obligations to be performed by the Hong Kong Government as will be set forth....." I said I thought this unnecessary and that it would be better not to press the point on the principle that we should not be adding unnecessary wording. Zhang half accepted this but I suspect will nevertheless make the suggestion to Beijing.
7.
Zhang thought Beijing might take a week or so to consider the new drafts. I said I would try to get back to him very quickly with any comments we might have on his preliminary comments. The best way forward now, we agreed, would be to agree between us any further changes to be made to the documents and put them jointly to the Bank and Fund Secretaries.
Yours ever, Daniel
David Peretz
cc: Mr. J. Ricketts (FCO)
Mr. M.A. Power (ODA)
Mr. J. Cunliffe (HMT) Mr. J. Lau (HK)
Mr. E. Yue (HK)