Wt. 23364/665. 8/47. 50,000. S. & S. Ltd.
54126/4/48
0.
Boss
Mr..
27/2. Mr.Kelvin Stark 27
Mr. Palmer
Mr Mayle
Mr.
27 I
DRAFT.CODE TELEGRAM
GOVERNOR,
IMMEDIATE
Permt. U.S. of S.
Parly. U.S. S.
Secretary of State.
Your Reference.........
NO.
You tol
Weed
drift
76:
Confidential
February, 1948.
Your despatch No. 1. Confidential
HONG KONG.
1. J
understand
of
Dove
first- $50,000,000
has now been made.
773 -1-147.
óf 6th January 1948.
Sunce & approved issue
7 Coan
the general terms
wer
affroved
of the proposed Ontware lastingent the
Rehabilitation Loan Ordinance.
however
ete Ordinance includes
provision, under Clause 7 (7) for
transfer by delivery, thus covering
presumably any
both ordinary and premium bonds if coaned subseqmently under a cubrequent Ordinance. Bonds would therefore be in bearer
form and provide possibility of Exchange Control leakage.
You will appreciate that balance of payments and exchange position of sterling area has deteriorated
esperally in recent months and possibility of
exchange control leakage is an
increasingly serious concern.
accordingly
It is most desirable that all bonds
issued in Colonial territories should
be registered and not (repeat not).
in bearer form.
25
Loan Ordinance to
1 Amendments to
FURTHER ACTION.
Copy 15
A. H. Hicks. (-6.agens)
emaver the
actor for
he as follows:-
to be made
registrave wome
Fection
Gimane 7 (4) Omit all words after
"the day named in that behalf
on the bond".
Section (7)
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