TNAG-2027-FCO40-2889-Hong-Kong-freezing-of-Kuwaiti-and-Iraqi-assets-1990 — Page 41

CONFIDENTIAL

CONFIDENTIAL

FM FCO

TO IMMEDIATE HONG KONG

TELNO 1508

OF 091845Z AUGUST 90

AKE 020/26

(32

38

050056

MDHOAN 3989

FOR ACTING GOVERNOR FROM MARSDEN

YOUR TELNO 2471: FREEZING OF KUWAITI AND IRAQI ASSETS: POSSIBLE DISPOSALS IN HONG KONG BEFORE IMPLEMENTATION OF THE FREEZE

1.

IN PARA 2 OF TUR YOU POINT OUT THAT VIRTUALLY ALL THE KUWAITI SELLING ORDERS OF WHICH YOU ARE AWARE EMANATED FROM THE KUWAIT INVESTMENT OFFICE (KIO) IN LONDON AND THAT THIS MIGHT NOT BE COVERED BY THE UK ORDER WHICH ONLY APPLIES TO PERSONS RESIDENT IN KUWAIT.

2. THE KUWAIT INVESTMENT OFFICE IS AN OVERSEAS ARM OF THE KUWAIT INVESTMENT AUTHORITY, WHICH IS OWNED BY THE KUWAITI GOVERNMENT. THE BANK OF ENGLAND HAVE CONFIRMED THAT THE KIO IS THEREFORE BEING REGARDED AS A RESIDENT OF KUWAIT FOR THE PURPOSE OF GIVING EFFECT TO DIRECTIONS RELATING TO THE FREEZING OF KUWAITI ASSETS (SEE PARA 7 OF THE BANK OF ENGLAND NOTICE OF 7 AUGUST).

HURD

YYYY

ΜΑΙΝ

IRAQ/KUWAIT

LIMITED

MED

[-]

HKD

WIAD

MR BURNS

NNNN

327

DISTRIBUTION

327

ADDDITIONAL

IRAQ/KUWAIT

MR FIFOOT, LEGAL ADVISERS MR COMPTON, BANK OF ENGLAND (PASSED TO EMERGENCY UNIT)

PAGE 1 CONFIDENTIAL