TNAG-1388-FCO40-1859-Future-of-Hong-Kong-Sino-British-Joint-Declaration-1985 — Page 209

G.F. 316

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10

Section VII

7

Monetary System Action Officer;

SMA

GD Branch Liaison Officer: PAS (GD)1 (Nicholas NG)

Medium term

a

b

O

d

Bring control of Exchange Fund wholly within authority of HKG (i.e. Amend Exchange Fund S.3, 5 and 8);

the

Fund Ordinance

Amend Clause 6 of Chartered Bank's Royal Charter, the Hong Kong and Shanghai Banking Ordinance (Chapter 70) and the Bank Note Issue Ordinance on the authority to issue bank notes;

Consider arrangements whereby China might take over HMG's guarantees to Asian Development Bank post 1997*;

Replace Hong Kong Coinage orders 1936 to 1978 by Hong Kong Legislation;

Long Term

(D

f

Consider whether Bank of China should become a note issuing bank and join Exchange Fund Advisory Committee;

Consider arrangements for replacement of notes and coins.*

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