CO129-609-4 Future policy- draft proclamation for moratorium on unsettled debts 24-8-1945 - 22-2-1947 — Page 4

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All

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Brigadiers MacDougall and Colonel Strickland put these points to me without much notice, and I said that I had no decided views on most of the issues involved. On the matter of charging interest during the moratorium, I was pretty well convinced by Colonel Strickland's arguments, and should let the Hong Kong on stand as he has drafted it on that point.

As to the inclusion of the provision about the suspension and extension of debts, I am still not very clear about the precise legal effect. Colonel Strickland's reason for excluding these words was, however, broadly that they were

unnecessary. C. O'Connor has given very plausible reasons above why they are necessary or at least have some definite effect, and the effects which he suggests would flow from their inclusion are perfectly reasonable. I would, therefore, willingly agree to the sentence in question being re-inserted.

The point in paragraph 9 of O'Connor's minute was not discussed with me, and I agree that Article 5(1) of the Hong Kong draft should be amended as he suggests.

No amendment of the Malayan draft is necessary. If the above is agreed, Malayan and Hong Kong practice will defer as to the charging of interest, but I do not think that that matters seriously.

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30.8.45.

Col O'Connor

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comments

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prepare (in the fou

to go to

C.C.A.O. (HU)

via C.A. Auicctorate

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31/8

Mr Packin

to-day.

to reinstate

This went to C.A.M. P.z. ronly reached me 2. I do not think it receciary the words to which Col. Strickland objected, provided that Article 5 (is is amended by the "deletion of the words "During the period of

The affect will then be as at paragraph 17 (a) of my

the moratorium

"

in para ().

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