CO129-601-1 Salaries Commission- currency basis of emolument 9-1-1948 - 5-6-1948 — Page 64

53723/6/48

Dear Serpell,

•

-

Colonial Office,

Church House,

645

Great smith Street,

S.. 1. 3.

12th February, 1948.

Ans'd. (7)

#ill you please refer to Hong Kong telegram No.34 of the 9th January, 1948, a copy of which was sent to you but of which I attach a further copy for ease of reference.

In Malaya where salaries have in the past been quoted in local dollars, it has been the practice for leave salaries and pensions paid in the United Kingdom to be converted from dollars to sterling at the Goverment rate of exchange of 2/4 to the dollar. relevant provision in the conditions of appointment reads:-

The

(vi) Currency. The currency of the kalayan Union,

Singapore and Brunei is based on the Malayan dollɛr. All salaries are fixed iu dollars and are so paid while officers are on service. For purposes of paying saleries when on leave or on pension after retirement dollars are converted into sterling at the Goveriment rate of exchange which is at present 2/4d to the dollar. This rate is liable to alteration, but no chang● has taken place since 1906.

we propose that in Hong Kong this precedent should be followed and that leave pay and peusious should be converted into sterling at the rate of 1/3. As you are aware, this is the rate which sloSS

employed