TNAG-0105-FCO40-141-Letters-Patent-and-Royal-Instructions-including-change-of-ti-1969 — Page 43

Mr. Carter

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Please see telegram 2130.

2. Of course it will be for the law officers to advise, but I doubt very much whether the amendments which Hong Kong wants for the Exchange Fund Ordinance will be permissible, at least without an amendment to Royal Instructions,under Article 26, 3, of which they are asking for authority to make future amendments to the borrowing limit "by resolution of Legislative Council".

3.

I understand from Mr. Gaminara that we are proposing other amendments to the Royal Instructions and I have therefore spoken to F.P.A.D. and asked that if in this context of increased borrowing powers of the exchange fund, they do find that it is necessary to amend the Royal Instructions (and if the lawyers advise that this is desirable, which I doubt) they should consult us.

Ma✓

(H. H. Stewart)

4 November, 1968.

RECEIVED IN ARCHIVES No. 63 -6 NOV1968

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29/12/68