TNAG-2028-FCO40-2890-Hong-Kong-freezing-of-Kuwaiti-and-Iraqi-assets-1990 — Page 156

(c)

distributions and payments to residents of Hong

Kong under wills and intestacies and under set up before 7 August 1990.

Lousts

Provision of cash to residents of Iraq in Hong Kong

14. Authorized institutions and other persons in Hong Kong may provide cash in reasonable amounts in Hong Kong Dollars in Hong Kong to residents of Iraq -

(a)

101

(c)

in exchange for foreign currency (other than Iraqi or Kuwaiti dinars) of equivalent value;

against cheques, travellers' cheques, travellers' letters of credit, credit and debt cards and other payment instruments except for those payable in Iraqi dinars;

through automated teller machines.

Payments by branches in Hong Kong of companies resident in Iraq

15. Permission is hereby given for branches in Hong Kong of

Iraqi companies or businesses resident in Iraq to make salary and pension payments not exceeding the amount payable pursuant to any agreement entered into prior to

August 1990 to persons living in Hong Kong,

16. The Financial Secretary will consider applications from

branches in Hong Kong of companies or businesses resident in Iraq to make other payments of a current nature. Payments of a capital nature will not normally be permitted.

Pensions, etc, due to residents of Iraq

17. Any necessary permission is hereby given for the

payment outside Hong Kong of pensions due to residents of Iraq and of widows' and widowers' annuities associated with deceased husbands' and wives' employments.

Credits, loans and overdrafts

18. For the time being, permissions will not normally be

given to enable existing or intending lenders subject to the Order (see paragraph 4 above) to comply with any

P, B