CO537-(1262-1649) — Page 145

ラ

TELEPHONE

MANSION HOUSE 0841.

1.P.C.

00 109

紛

9, GRACECHURCH STREET,

LONDON, E. C. 3.

April 6th, 1946.

BY HAND

My dear Caine,

107

I have read the draft Ordinance dealing with the validation of the Hongkong Notes and have no comment to make, except as to the words "first issued in the third line from the end of paragraph 3 (2) (b).

The Notes in question were issued only once, and then illegally, and, as I understand, they have now been validated ab initio. Is it intended to refer to the use of the Notes in discharge of the Bank's liability up to a certain date, e.g. the date of the announcement of the validation, or during the occupation? The term needs definition.

May I remind you of the necessity of extending the Bank's power to issue Notes under section 10 of the Bank Ordinance of 19297 The Bank should have this power

as from the end of the period of Military Administration.

Yours sincerely,

A

S.Caine, Lan, Go Go

Colonial Office,

Dover House,

WHITHALL, S. i.1.

1

2

cms

Ref.:

CO 537/1369

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