TNAG-1460-FCO40-1984-Future-of-Hong-Kong-Sino-British-Joint-Declaration-post-rat-1986 — Page 22

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Section VII

Monetary System Action Officer; SMA GD Branch Liaison Officer: PAS (GD) 2

Target

Completion Date

Medium term

a Bring control of Exchange Fund wholly

within the authority of HKG (i.e. Amend Exchange Fund Ordinance S.3, 5 and 8);

b

C

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;

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

Long Term

d

e

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*.

G.F. 316

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