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Wednesday, October 17, 1973
He thanked the Securities Advisory Council under the chairmanship of
Mr. Y.H. Kan, and the Commissioner for Securities, Mr. J. Selwyn, for their
efforts in drafting new legislation which is to be introduced in the Legislative
Council shortly.
Sir Murrey could add little on the problem of Hong Kong's sterling
holdings and the unilateral offer of a six-month guarantee announced by the
British government aimed at stabilising the market.
"As a major holder the Hong Kong government of course has a very
strong interest in the stability of sterling, and friendly exchanges continue
with the Treasury about what we might do in our own and the general interest,"
he said.
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