UNCLASSIFIED
052632
MDLOAN291
WHETHER THE REPORTING REQUIREMENT UNDER SECTION 26 OF THE DRUG TRAFFICKING BILL IS LIKELY TO BE AMENDED BY LEGCO BEFORE GIVING THE AMERICANS A SUBSTANTIVE RESPONSE (PARA 7 OF TUR). WHEN YOU DO GO BACK TO THE AMERICANS YOU MAY WISH TO MAKE THE POINT THAT A BILATERAL AGREEMENT ALONG THE LINES OF THE UK/US AGREEMENT WOULD PROVIDE AN EFFECTIVE FRAMEWORK FOR THE EXCHANGE OF INFORMATION ON DRUG-TAINTED FINANCIAL TRANSACTIONS. HOWEVER, UNLESS YOU CHOSE TO FOLLOW A FUNDAMENTALLY DIFFERENT ROUTE TO THE UK, ANY BILATERAL HONG KONG/US AGREEMENT WOULD NOT PROVIDE A MECHANISM UNDER WHICH RECORDS OF ALL TRANSACTIONS OF OVER US DOLLARS 10,000 MAY BE MADE AVAILABLE TO US LAW ENFORCEMENT OFFICIALS.
HOWE
YYYY
ΜΑΙΝ
LIMITED
ERD
HKD
8893
48
DISTRIBUTION
52
NCAD
PUSD
ADDITIONAL
MR MORGAN, OT2/DTI
MR GREEN, BANK OF ENGLAND MR KROLL, FIM/HMT
MR VALLANCE, C7 HOME OFFICE
NNNN
PAGE 2 UNCLASSIFIED
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