TNAG-1719-FCO40-2399-Hong-Kong-1987-Review-of-Representative-Government-1988 — Page 172

RESTRICTED

INVESTIGATIONS BY THE INDEPENDENT COMMISSION AGAINST CORRUPTION

(ICAC)

Investigation is matter for Hong Kong authorities.

Cannot comment on substance of allegations.

But clearly right that authorities should have taken the action which they judged necessary.

Further evidence of their determination to deal effectively with

any problems which are identified in the operation of Hong Kong's

financial institutions.

APPOINTMENT OF MR IAN HAY DAVISON

- Mr Ian Hay Davison's appointment to conduct Enquiry into Stock and

Futures Exchanges, a matter for the Hong Kong Government.

CLOSURE OF THE STOCK EXCHANGE AND FUTURES EXCHANGE

- Closure of Stock and Futures Exchanges matters decided by the

Exchange themselves.

RESTRICTED