GR$ 170
CONFIDENTIAL
FM HONG KONG
TO PRIORITY FCO
TELNO 1008
OF 13084OZ MARCH 87
CONFIDENTIAL
23.3/2
13 MAR 1987
TOP COPY Q DIST ?
THY
.. laken
FOR LEEKS FROM SHIPLEY.
YOUR TELNO. 655: NEW PENSION SCHEME : DRAFT LEGISLATION.
THANK YOU FOR SENDING US GAD AND ODA COMMENTS ON THE DRAFT PENSION BENEFITS BILL AND REGULATIONS. WE SHALL RESPOND TO THESE SHORTLY.
2. AS REGARDS LEGISLATING FOR THE LIMITED COMPENSATION SCHEME WE PROPOSE THAT IN ACCORDANCE WITH PAST PRACTICE, AS ADVISED BY YOU, THE SCHEME SHOULD BE AN ADMINISTRATIVE ONE. THE PROVISION IN THE PENSIONS ORDINANCE IS SIMPLY TO ENABLE RETIREMENT BENEFITS TO BE PAID WHEN OFFICERS RETIRE OR ARE RETIRED UNDER THE SCHEME. ADVICE HERE IS THAT THIS IS ACCEPTABLE.
LEGAL
3. AS REGARD PARA. 2 OF YOUR TUR FOR THE AVOIDANCE OF ANY MISUND- ERSTANDING WE ARE NOT PROPOSING THAT THE SECRETARY OF STATE'S POWERS SHOULD IN ANY WAY BE LIMITED BY RATHER THAT THEY SHOULD BE EXERCISED UNDER LEGISLATION OR REGULATIONS WHICH CAN BE PAINLESSLY CANCELLED OR WITHDRAWN IN 1997 RATHER THAN INVOLVE THE AMENDMENT OF LEGISLATION CONTINUING IN FORCE AFTER 1997.
AKERS-JONES
YYYY
HMLNAN 0039
HONG KONG AGREEMENT: RESTRICTED
LIMITED
HD/HKD
HD/FED
RESEARCH D. (FE)
DEP.HD/PUSD
PS/MR RENTON
SIR. D. WILSON
MR GILLMORE
COPIES TO:
MR FIFOOT, LEGAL ADVISERS
MR FOSTER, GOVT. ACTUARYS
DEPT.
MR POWER, PENSIONS DEPT.
CONFIDENTIAL
OOA
21
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