CONFIDENTIAL
041237
MDLOAN 1330
THAT WE RATIFY AS SOON AS POSSIBLE. OTHERWISE WE MAY MISS THE INAUGURAL MEETING OF GOVERNORS AND THE ELECTIONS TO THE BOARD OF DIRECTORS, THUS LOSING OUR CHANCE OF BEING REPRESENTED ON MIGA'S EXECUTIVE BODY FOR THE FIRST TWO AND A HALF YEARS OF ITS LIFE. THERE IS THEREFORE NO QUESTION OF THE UK DELAYING RATIFICATION BEYOND THE NATURAL LIMITS OF THE LEGISLATIVE PROCESS DESCRIBED IN
(I) ABOVE.
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5. SUBJECT TO ANY FURTHER VIEWS YOU OR PEKING MAY
HAVE, WE SUGGEST THAT WE PROCEED AS SOON AS POSSIBLE WITH OUR APPROACH ΤΟ THE CHINESE. WE SUGGEST HOWEVER THAT PARA 3 OF THE SPEAKING NOTE IS AMENDED AS FOLLOWS DELETE SECOND SENTENCE AND REPLACE BY QUOTE WE WOULD HOPE TO INCLUDE HONG KONG IN THE UK'S RATIFICATION OF THE MIGA CONVENTION WHICH IS DUE TO TAKE PLACE AROUND THE END OF MARCH. IF THIS PROVES NOT TO BE POSSIBLE, BECAUSE OF ANY UNFORESEEN DELAYS IN CONSIDERING HONG KONG'S PARTICIPATION UNDER THE GUIDELINES, THE UK WILL RATIFY FIRST, EXCLUDING HONG KONG INITIALLY THEN LIFT THE EXCLUSION AS SOON AS POSSIBLE THEREAFTER. WE HOPE HOWEVER THAT THE CHINESE SIDE WILL BE ABLE TO LET US HAVE THEIR CONSIDERED RESPONSE BEFORE THE UK RATIFIES SO THAT HONG KONG MAY BE INCLUDED FROM THE OUTSET THUS AVOIDING ANY RISK OF POTENTIAL INVESTORS THINKING THAT HONG KONG'S EXCLUSION MEANT THAT THE TERRITORY WAS UNWILLING OR UNABLE TO COOPERATE IN AN IMPORTANT
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OF INVESTORS. UNQUOTE.
6.
HOW E
SEE MIFT.
INTERNATIONAL SCHEME FOR THE PROTECTION
YYYY
DISTRIBUTION
43
ΜΑΙΝ
41
HONG KONG AGREEMENT RESTRICTED
HKD
HD/FED
RESEARCH (FE)
PUSD
PS/LORD GLENARTHUR
PS/MR EGGAR
PS/PUS
MR MCLAREN
MR GILLMORE
ADDITIONAL
2
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