CONFIDENTIAL
CONFIDENTIAL
HKC100/4
RECE"
FM FCO
TO ROUTINE HONG KONG
IN.
TELNO 2260
OF 27110OZ NOVEMBER 90
27 NOV 1990
"1
136132
MDLOAN 4729
TOP COPY Q DIST?
YOUR TELNO 1328: HONG KONG: LOCALISATION OF LAWS RELATING TO IMF, IBRD, IFC AND IDA
a.
CS
28/11
1. AT THE SUGGESTION OF OUR LEGAL ADVISERS, WE HAVE FOLLOWED UP WITH THE IMF A POINT ARISING FROM PARAGRAPH 1(D) OF TUR. IMF HAVE CONFIRMED THAT THE COUNCIL REFERRED TO IN SCHEDULE D OF THE SECOND AMENDMENT OF THE IMF ARTICLES OF AGREEMENT WAS NEVER ESTABLISHED. IT IS UNLIKELY THAT THE BOARD OF GOVERNORS WOULD DECIDE TO ESTABLISH IT AT ANY TIME SOON, BUT IT IS POSSIBLE THAT IT COULD HAPPEN IN CERTAIN CIRCUMSTANCES. FOR EXAMPLE, THE GOVERNORS MIGHT CONSIDER THAT THERE WAS A NEED FOR A PERMANENT BODY CONSTITUTED AT MINISTERIAL LEVEL TO BE SET UP IF THE IMF SHOULD TAKE ON MUCH GREATER RESPONSIBILITIES IN THE ORGANISATION
OF THE INTERNATIONAL MONETARY SYSTEM.
2.
WE THEREFORE SUGGEST THAT SOME REFERENCE TO THE COUNCIL
SHOULD BE INCLUDED IN THE DRAFT LEGISLATION ON IMMUNITIES. THE
HONG KONG BILL WOULD THUS REFLECT THE UK ORDER WITH REGARD TO
ARTICLE 7.
HURD
YYYY
ΜΑΙΝ
58
.HONG KONG AGREEMENT
. (RESTRICTED)
LIMITED.
HKD
HD/FED
NEWS D
DISTRIBUTION
61
PUSD
RAD
PS/LORD CAITHNESS
PS/MR LENNOX-BOYD
MR MCLAREN
MR BURNS
PAGE 1 CONFIDENTIAL
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