i
that
serry
we
have not
answered
your
letter before, but we have
been busy with briefs
for
Sof!
Sots's
visit to . H.K.
(H. P. Hall.)
A I
It the Japanese propose
h
open
a
new
bank
it will be
necessary
for them to apply to a banking
license under the Banking Ordinance (which ordinance empowers the Financial
given).
a license without reason
that a
of 1948
Secretory to refuse We think it likely
license wo have to be refused until after the
ratification of the Peace Try:, unless the Sterling
already Payments Agreement I provides for reciprocal banking facilities.
It wo, havever, he possible to the tapanese
to open a bank, toy without obtaining a license, by existing Chinese bank, or or correspondent to an
an
buying
agent
an
Do
you
want
officially?
us
by appointing
existing bank.
to take this multer
up
with H.K.