TNAG-2421-FCO40-3523-Hong-Kong-Her-Majesty-s-Overseas-Civil-Service-(HMOCS)-poli-1992 — Page 22

CONFIDENTIAL #2

2

5.

Mr Margolis said in the paper

that he has consulted or interviewed me on his proposal. This is not true. All he did was to tell me over the phone that he was working on the project and that he wished to seek my views on the monetary implications. He

said he would send me a paper on the project for comments. He never did. In my opinion our conversation over the phone clearly does not justify Mr. Margolis saying that he has consulted me.

(Joseph Yam )

Acting Secretary for Monetary Affairs

c.c. Secretary for the Treasury

(Attn: Mr John Wilson)

CONFIDENTIAL

GF 323

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