J
t..
.)
2
to.
group without limit but Jubject to the categorisation urran, Similarly, finished pi.corpods yardage may be transferred into the loonstate group without limit, but subject to the ortogorization arrangemunto.
3.
The newly restrained products will form a separate group and no transfor into or out of this group will be allowed.
E. CHARGOKIMMATON
Within the separate groups certain items will be categorised and exports limited to specific ceilings as shown in the one) onure,
2.
bject
Other items will not be limited. Subject to satisfactory arrangements being concluded in accordance with paragraph 3 they will be combined into W.D.S. categories in each group and there will be no provision for them to be automatically limited when exports from Hong Kong attain a level of 3 million square yards. However, the Board of Trade may need to consider the overall level of imports into the United Kingdom from restricted suppliers of particular items in the N.m.5. categories. If these cause difficulty they may have to review the situation with a view to establishing categorics with specific limits for such ivoms. Those arrangements would apply to all restricted suppliers.
3.
The category ceilings for 1966 will be based on the mual restraint levels for 1965 as indicated in Appendix 3 of the Record of Modifications to the 1963-5 undertaking and brought up to date 23 shown in the cnclosure.
4.
In 1967 and in each of the subsequent years up to and in- cluding 1970 the ceilings will first be increased by the 1% growth
factor.
5.
In 1967 and in each of the subsequent years up to and including 1970 the ceilings will be further increnced by 5% in those sensitive categories in which Hong Kong's exports in the previous year reach 95% or more of the ceilings established for that year.
6.
There will be no reductions from the 1966 ceilings, or from the subsequently established ceilings, in any categories in which export performance falls short of the ceilings.
Note
This parserephmeans that the 5% increase may be cumulative over the four years 1967-1970 provided performance in each year is at least 95% of the previous year's ceiling.
In calculating the annual ceilings no account will be taken of anticipations.
7.
8.
The Board of Trade have undertaken to consider the possibility of Hong Kong instituting an export authorisation schume in respect of the items included in the N.3.5. categories to protect Hong Kong's forward commitments for such items as may 1 tor be separately entegorized and limited.
Note
The item handings for such a scheme will be considered jointly by ilong Kong and the Board of Prade.
F.
ANTICTAVIA MNYSTER
Page 180Page 181
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