CO537-(1262-1649) — Page 148

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? (a)

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(b)

Three other points suggest themselves to me

I suppose the date 14th April 1946 is the day on which

Civil Government is declared.

I assume that the granting of the increase in the Hongkong

Bank's fiduciary issue will be taken care of in a separate Ordinance.

(o), Some action will have to be taken in Hong Kong, will it not,

to legalise the issue of notes by the three Banks. After July 1940 the Banks' powers to issue were to be authorised by Resolution of the Legislative Council. Perhaps one of the first acts of the Legislative Council is to authorise retrospectively, since the draft Ordinance covers only notes issued between January 1st 1942 and August 16th 1945. Technically the Banks have been issuing notes ever since the Military got back to Hong Kong.

I am sending a copy of this letter to Young.

Yours sincerely,

J. Risher.

S.Caine, Esq., C.M.G.

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Ref.:

CO 537/1369

THE NATIONAL ARCHIVES

2

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