TNAG-0056-FCO40-92-Evacuation-plan-1967 — Page 140

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(2) It would be necessary to block the substantial sterling

(3)

balances held by the Government and residents, chiefly banks,

of Hong Kong. This could be done within 24 hours. The

greatest care would be necessary in public presentation

(paragraphs 5 to 8 above).

e would need subsequently to establish criteria under

which sums might be released from the blocked balances, but

it is neither necessary nor practicable to determine the se

criteria in advance (paragraph 9 above).

(4) There would be no need for immediate action on the

commercial policy front in the context of an evacuation,

but action would probably be needed within a few weeks

(paragraph 11 above).

B. In a situation of continued disturbance but not evacuation

(1) Measures to combat loss of confidence and flight of

capital would fall mainly to the Hong Kong authorities,

with whom therefore we recommend early consultations on

contingency planning (paragraph 12 above).

H.M. Treasury 29th August, 1967.

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