No.98.
GOVERNMENT HOUSE,
4
HONGKONG.
Sir,
RECEIVED 30 SEP 1946
O. O. REGY
16th September, 1946.
I have the honour to transmit for your information
an extract from the records of a meeting of the Hong Kong
Legislative Council held on the 27th August, 1946. This
extract relates to a Motion proposed by the Hon. Mr. M.K. Lo,
C.B.E., an unofficial member, and unanimously adopted by the
Council.
2.
It will be noted that the unofficial members of the
Council expressed the hope that the decision on outstanding
matters concerning the debtor-creditor relationships will,
when finally arrived at, be put into effect by legislation
in Hong Kong or else, if it is effected by Order-in-Council,
that the Legislative Council will first be given a full
opportunity of expressing its views.
3.
It will be observed from the comments made by the Hon.
Mr. M.K. Lo, C.B.E., that Unofficial Members are becoming
extremely restive about the maintenance of the restrictions
imposed by the Moratorium Proclamation. While the difficulties
are appreciated at least in part, public opinion is hardening
against the Government now that the Colony has been liberated
for over a year. As it may still be some considerable time
before final agreement is reached and the necessary legislation
introduced, I am exploring the possibility of partially
removing the ban on the transfer of shares and of granting
further exemption in the case of dealings in land.
Acting on
these lines would meet some of the main complaints of the
public.
Clearly it will have to be a condition precedent to
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