TNAG-1173-FCO40-1465-Future-of-Hong-Kong-special-study-by-FCO-for-the-Prime-Minis-1982 — Page 254

CODE 18-77

Reference................

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5.

Some other points:

a.

Para 1, line 14 locus standi;

add 'direct' before

b. Para 6, line 8

the addition of 'for legal

the re-

reasons' is perhaps not strong enough, since quirement of HMG's guarantee derives from responsibility for external relations (this point is made in para 11)-

c.

Para 8, lines 14 and 15

to read 1 .highly unlikely to come under purely domestic pressure with respect to its HK$ liquidity. Should it face difficulties however..

d. Para 11, line 1

e.

'MF

1 to read IMF'

I would prefer

1

•

Para 17 for lines 4 and 5 something less forthright such as

relation- ships with HMG, reducing the possible adverse effects on confidence in Hong Kong as an inter- national banking centre.'

25 August 1982

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전

SH Broadbent ESID

233 4810/5053