TNAG-0380-FCO40-426-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 90

CONFIDENTIAL

(c)

MINISTER OF STATE

TREASURY

overdrafts and short term advances in

sterling must be netted against official sterling reserves and total official external

reserves. Overdrafts and short-term advances

in other currencies must be netted against total official external reserves.

Notification of average rate

7. The Bank of England will at the end of each month advise the Government of Hong Kong, or its agent, of the cumulative

average rate.

Entry into effect and duration

8. The provisions of this Declaration will come into effect

on 25 September 1973 and will remain in effect until 31 March 1974, unless extended with or without modifications for a further period.

34m bytt.

Made at London this eleventh day of September 1973

For the Government of the United Kingdom of Great Britain and

Northern Ireland:

CONFIDENTIAL

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