TNAG-0236-FCO40-272-Changes-in-delegation-of-responsibility-for-matters-of-finan-1970 — Page 7

Mr. Laifa

Reference........

Flag I FED/489/400/0)

9/57/59) 10

Flas A

이

FED 489/400/01

(1552/59) (21)

Hong Kong Financial Autonomy

You asked to see papers giving financial autonomy to the Government of Hong Kong in 1958.

2.

Despatch No. 96 of 14 January, 1958 at (10) on file 489/400/01 proposes that the Secretary of State should be consulted on:-

(1)Finance legislation;

(2) proposals for expenditure involving

important new issues or variations of financial principle;

(3) the proposed terms of issue of any Government loan of more than one year's maturity, and any proposal

of currency, banking or related

subjects.

These changes were brought into effect in Hong Kong by.. their Circular No. 55 of 17 July amend Colonial Regulations accordingly.

3. While the Financial Secretary in Hong Kong is still required to correspond informally with H.M.G. in regard to variations of existing financial policies and to supply a survey of the ensuing years estimates and a quarterly survey of the Colony's financial position, he is permitted to conduct the financial affairs of the Colony in other respects without control from H.M.G. except for the items referred to above. I attach copies of Colonial Regulations referred to in the Hong Kong Circular.

п M Beily

fe. кмр луим

Jakume es

(G. F. Kinnear) 18 September,1970

then

here

paper has d ER.239