CONFIDENTIAL
163262 MDHOAN 6947
GUARANTEE WOULD OF COURSE, BE SUBJECT TO PRC APPROVAL UNDER ARTICLE 15.
(III) A4: THE FINAL SENTENCE ONLY APPLIES
OF COURSE PROVIDED THE PRC HAS ITSELF BECOME A DEVELOPING MEMBER
COUNTRY BEFORE 1 JULY 1997.
(IV) Q5 IS PHRASED A LITTLE ODDLY. WE SUGGEST THAT
THE SECOND AND THIRD SENTENCES SHOULD REQD QUOTE IS IT
NECESSARY TO DESIGNATE HONG KONG AS A DEVELOPING MEMBER COUNTRY NOW WHEN THE HKSAR, AS A PART OF THE PRC, WOULD BE ABLE TO ENJOY ALL THE BENEFITS OF A DEVELOPING MEMBER COUNTRY
AFTER 1997 THROUGH THE PRC'S PARTICIPATION IN MIGA UNQUOTE.
(V) DELETE A6 AND REPLACE WITH THE FOLLOWING QUOTE FOR WIDER CONSIDERATIONS NOT RELATED TO HONG KONG, THE UK WISHES TO NOTIFY THE CONVENTION AS SOON AS POSSIBLE (POSSIBLY IN MARCH). AS THE CONVENTION IS WORDED, IT WOULD NOT BE POSSIBLE TO EXCLUDE
HONG KONG AND OTHER TERRITORIES FOR WHICH UK HAS INTERNATIONAL
RESPONSIBILITY AND SUBSEQUENTLY INCLUDE THEM: BUT WE ARE
DISCUSSING WITH THE WORLD BANK A POSSIBLE FORMULA WHICH WOULD ENABLE US TO DO SO. IF THIS PROVES TO BE POSSIBLE WE SHALL EXCLUDE THEM FROM THE OUTSET, WITH THE INTENTION OF SUBSEQUENTLY INCLUDING THEM. IF IT PROVES NOT TO BE POSSIBLE WE SHALL HAVE THEM COVERED BY THE CONVENTION FROM THE DATE OF OUR RATIFICATION
BUT DEFER THE QUESTION OF THEIR DESIGNATION AS DEVELOPING MEMBER
COUNTRIES FOR TWO OR THREE MONTHS UNQUOTE.
4.
PARA 3 OF FIRST TUR ASKS FOR A COPY OF THE DRAFT ORDER IN
COUNCIL. IT IS TOO EARLY TO BEGIN DRAFTING THE ORDER AT THIS STAGE, BUT WE WILL FORWARD A COPY TO YOU AS SOON AS A DRAFT IS AVAILABLE.
5. WE AGREE WITH THE COMMENTS IN PARAS 2 AND 3 (A) OF PEKING
TUR. ON PARA 3(B) THERE ARE NO EXAMPLES OF DEPENDENT TERRITORIES HAVING BEEN DESIGNATED DEVELOPING MEMBER COUNTRIES. SUCH
DESIGNATIONS RELY ON DECISIONS BY THE MIGA BOARD OF DIRECTORS
WHICH, AS THE MIGA CONVENTION HAS NOT YET ENTERED INTO FORCE, DOES NOT YET EXIST.
SUBJECT TO ANY FURTHER VIEWS YOU OR PEKING MAY HAVE ON THE
ABOVE, PEKING CAN NOW GO AHEAD AND APPROACH THE CHINESE.
6.
HOWE
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