TNAG-1270-FCO40-1620-Financial-policy-in-Hong-Kong-1983 — Page 63

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4 IN EITHER EVENT I SHOULD OF COURSE BE GRATEFUL FOR A FULL ACCOUNT OF THE BASIS OF YOUR DECISION FOR USE IN PARLIAMENT AND

ELSEWHERE.

5. I CAN IN ANY CASE GIVE CONTINGENT APPROVAL FOR THE TRANSFER OF HK DOLLARS 250 MILLION FROM THE EXCHANGE FUND TO THE GENERAL REVENUE AMOUNT IN CASE YOU DECIDE TO GO AHEAD WITH THE ABOLITION OF THE

WITHOLDING TAX ON INTEREST ON HONG KONG DOLLAR DEPOSITS.

HOWE

NNNN

DISTRIBUTION

LIMITED

HKD

HD/ERD

PS

PS/MR LUCE

MR DONALD

SIR I SINCLAIR

MR GIFFARD

MR DONALD

X

COPIES

MR BURROWS, LEGAL ADVISERS.

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