SBC
related to the recovery of tangible capital assets.
They believe that provided there were sufficient good-
will and drive the vacant possession required could
be given within the years proposed for the two
increases, that is to sạy 1977/78 and 1978/79.
3.
I accepted that this counter proposal
had very great local presentational and financial
merit, but that its feasibility could only be
considered in the light of the report of a qualified
working party.
4.
If you are prepared to explore this
counter offer, I am obliged to reserve my position
on the proposed increases in '77/78 and '78/79 until
the working party has reported.
5.
Unofficials were further of the view
that if through no fault of the Hong Kong Government
vacant possession was not forthcoming within the timè
scale eventually agreed there should be a corresponding
postponement in the increase in Hong Kong's contribution.
If you are able to agree to setting up
6.
a working party to produce a report on the shortest
possible time for giving vacant possession of these
two bits of land, in the hope of reaching agreement on
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