TNAG-0635-FCO40-783-Supplies-of-electricity-for-Hong-Kong-1977 — Page 76

CONFIDENTIAL

5.

J

XCC(64)111

15 The companies are prepared to accept all the normal obligations of holders of public utility, franchises (including the obligation to meet public demands in full, even if this involves further investment of equity capital) and to have the control arrangements given whatever form, statutory or otherwise, is considered desirable.

16

If the proposals for a new generating company jointly owned by China Light and Esso are to go through, it is essential that the directors of China Light should be in a position to inform its shareholders at the time the Company's 1934 Report is published. This would normally have been about 15 November.

17

Á tentative draft press release is at Annex C. It has not been cleared with the companies.

18

Honourable Members will be asked to advise whether the proposed control arrangements set out above should be agreed,

11 November 1964

(CR 1/4576/58 II)

COLONIAL SECRETARIAT