TNAG-2426-FCO40-3528-Hong-Kong-Her-Majesty-s-Overseas-Civil-Service-(HMOCS)-poli-1992 — Page 16

covering CONFIDENTIAL

HKA 233/1

Foreign & Commonwealth

Office

file.

476

27 July 1992

K Woodfield Esq

HM Treasury

Parliament Street

London SW1.

Dear Kenn,

HONG KONG HMOCS: MEETING ON OPTIONS

1.

London SWIA 2AH

Telephone: 071-

I enclose a draft note of our meeting on 23 July, showing action to be taken. Could you and copy recipients please let me know whether you are content with the note and the action required.

2.

We need to continue to press ahead with this quickly. I hope it will not take us more than three weeks to prepare the figures. We undertand that there is to be a meeting of ODP (K) on 15 September: we think that we should aim to have a further meeting between our Secretary of State and your Ministers a little time before then, so that if no agreement is possible, we can make use of the opportunity to get a final decision.

Yous incerely,

Nigel

N J COX

Hong Kong Department

cc: G Ballantyne Esq, GAD

D Fish Esq, ODA

D Rayson Esq, HMT

Mrs S Brown, HMT

PS

I also enclose a revision of the sterling safeguards options, generally reflecting a discussion but arranged broadly from the most costly to the cheapest and leaving in the ophon for HMG to safeguard the noncommutable element - in case you still want to try to combine this with a private sector scheme.

۸۵۰

fin.ar.let.ADM

SUM

Covering CONFIDENTIAL