TNAG-1950-FCO40-2778-Hong-Kong-Exchange-Fund-1989 — Page 46

COUCKILY

1

Reference......

L

EXCHANGE FUND ORDINANCE

1.

I should be grateful for your comments and advice on how best to

I attach a copy of the 1987 tel solve this delicate problem. referred to in para 5 together with a copy of the submission and resulting telegram to Hong Kong.

I have already sent a copy of telno 804 to Miss O'Mara in the Treasury, for her comments but she has yet to responce.

2.

HKCIOS //

Cε 2/5

15 March 1989

J

P J Morris

Hong Kong Department WH312

270 2653

für Why?

1. This crive,

to me

in Mr hdwads abovice. I devid

be grateful ÿ you could attoch a copy of the Exchange Find Ordinance and of the prod Lantom of the Laws Cedilmesine,

Ou

2/ rit first sight, this links rather servous to mes if unsecured borrowing) (which presumably

more expensive) aix

now out with the limit set by the EFC, then thus means that the

(300 18-7

HWG can be u

as much as

they wart,