12:
2.
It has however been found necessary in the light of comments received to amend substantially the draft legislation enclosed with my despatch
(1) No. 289
2) No. 252
(3) No. 171
(4) No. 4:6
(5) No.
16
76) No. 25
of 20th September and I am sending revised draft legislation by air mail savingram as soon as possible.
3. I shall be addressing you separately as soon as possible regarding the terms of an announcement to be made here and locally regarding the settlement of the debtor creditor question.
In the meantime I shall be glad to learn what scale of valuation will be introduced for
(a) payments in respect of pre-occupation, repeat pre-occupation debts;
and
(b) outstanding occupation debts.
5. With reference to suggestion in your telegram No. 236 that valuation placed on any capital repayments should be made purely nominal please see paragraph 2 of my telegram No. 734 of 23rd August. I shall address you separately on the question of partial lifting of moratorium pending the introduction of debtor creditor legislation. I will let you have my comments on the points raised in your savingram No. 214. They were of course taken into account in reaching conclusion in paragraph 1.
Copies sent to:-
Treasury
Bank of England Burma Office- Treasury Solicitors
Miss Ashe.
A
Mr. H.R. Apperley. Mr. C.E. Loombe.
Mr. Davy.
Mr. R.W. Speed,
To (3)