TNAG-2425-FCO40-3527-Hong-Kong-Her-Majesty-s-Overseas-Civil-Service-(HMOCS)-poli-1992 — Page 223

Mr Hum

$5

CONFIDENTIAL

FROM: P F Ricketts

DATE: 16 June 1992

cc: PS/Mr Goodlad

PS/Lady Chalker

PS/Mr Patten

Sir J Coles

Mr Muir

Mr Kerby ODA

Mr Fish

ODA Pension,

Pension, dept.

Mr Davies, FED

Miss Brooks,

Legal Advisers

Mr Fifoot, HKD

Mr Wye, RAD

дар

A

HONG KONG: ARRANGEMENTS FOR HM OVERSEAS CIVIL SERVICE:

MEETING WITH THE CHANCELLOR ON 17 JUNE

fecretan

"I understand Hat, subject to final confirmation from He Chief 1. The Secretary of State will meet with the Chancellor and Mr Portillo, Mr Goodlad and Mr Patten) at 9.30am on 16 June

to discuss arrangements for members of Her Majesty's

Overseas Civil Service (HMOCS)

points to make and

defensive points

AI

I attach: Submit

*

will also be present

- a short background to the issues

cto

-

The

Treasury

ove

dismayed

copy

Minutes

a reply of the letter the Secretary of State's sent to the Chief Chancellor of 12 June.

2. The main sticking point is likely to remain a sterling

safeguard for HMOCS members pensions. The theoretical--

contingent liability is high if the Hong Kong dollar becomes worthless or drop significantly in value.

But

to the

PJZAYO/1

size of

SLM

He worst Cafe

Contingent liability

CONFIDENTIAL

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Secretary of Mayad to the