CO537-(1262-1649) — Page 292

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CO 537/1374

THE NATIONAL ARCHIVES

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restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet. Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright

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cms

Ref.:

THE NATIONAL ARCHIVES

CO 537/1374

restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet.

Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright

(To 1 & 2 only) In my savingram No.(1) 181 of 11th July

(2) 171

(To 3 only) In my tolegram 637 of 3rd..ugust

(To others) In correspondence with the Governments of Malaya and

Hong Kon

(To all) I have stated that should the proposed revaluation of capital repayments result in banking institutions making profits on their transaction as revalued, auch profits should be appropriated by Government. In such a casc an important question 16 whether the calculation of profits should have regard to the oxtent to which claims against the banks' debtors are realioable in cases where the debtors have disposed of the socurity involved, The provision of Section 9 of the draft Ordinance should co a good way towards restoring the effectiveness of the security and consequently towards making any profits of the banks realisable profits. you prover to suggest a different method of reinstating the security to that proposed in Section 9 on the draft Ordinance, please indiente a thr, under such alternative authod, any theoretical grorits could be regarded as renliwable.

If

In order that flal decisions may be taken rega, ding legislatiou please let me invo muy comments by telegram as soon as pussibis after the receipt of this des ntch.

اله

Ina 31. 11.ply addrosolug the dover conts of

To 1 only) Singapore, Hong kong, north Borneo and Sarawak To 2 0.12 Malayan Union, i ong, dong, Horth Borneo and baraJAK

ΤΟ only) Malayan Union, singapore, Horth Borneo and Sarawak To 4 only) Malayan Union, cingapore, Hong Kong and Sarawak

(Wo 5 on17) Malayan Union, 3ingapore, liong kong and Lorth Borneo (To 1. 2. 4 & 5 only) and at forwarding a copy to the Governor- General.

I have the honour to be,

Sir

Your most obedient

humble servant,

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