TNAG-0380-FCO40-426-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 95

(c)

MINISTER OF STATE

TREASURY

overdrafts and short term advances in sterling must be netted against official sterling reserves and total official extemal Overdrafts and short term advances

reserves.

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.

Made at London this eleventh day of September 1973

For the Government of the United Kingdom of Great Britain and Northern Ireland:

CONFIDENTIAL