CO129-606-1 Treasury control over Hong Kong finances 28-9-1944 - 23-12-1947 — Page 30

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course, intended to exclude reference to the Treasury on

other matters in any case in which such reference seems

desirable to the Colonial Office and the normal practice

will continue of close consultation between the

Colonial Office and the Treasury on all matters of common

interest.

(a) The Colonial Office will transmit to the Treasury

for their information copies of the annual estimates, and

also of the annual accounta.

(b) The Colonial Office will keep the Treasury

informed of the general trend of the finèncial position

of the two governments during the year (see paragraph 1

(a) above),

(c) Any progremies of capital expenditure in excess

of $1 million will be notified to the Treasury.

(e) Proposals for any public loans will be agreed.

with the Treasury.

(e) Colonial Office will consult with the Treasury

on any problem where there might be a possibility that

assistance would ultimately be sought from U.K. funds

e.g. Compensation for wer damage snad losses.

(4) In view of the fact that the finances of

Hong Kong are still under Treasury control, the

Colonial Office will es fer as is

Aeasible, when approving

eny expenditure by the two olayan governments, bear in

mind, and it necessary consult the Treasury on, any

aspect which might have repercussione on similur

expenditure in Hong Kong.

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