TNAG-2427-FCO40-3529-Hong-Kong-Her-Majesty-s-Overseas-Civil-Service-(HMOCS)-poli-1992 — Page 70

WHEN POR was in meeting in

HK.

CONFIDENTIAL

HKA 233/1

Pension Safeguards

17/9.

523

Still no conclusion

on the way forward. further idea which is now being considered would involve

a

(a)

(b)

One

a statement from us saying that at a time closer to 1997 (say 1995 or 1996), if the money is available then the Financial Secretary will consider setting aside a sum of money as a pension payment safeguard; and

we will ask the Chinese [or, if that is achievable, the Chinese has agreed] to persuade the SARG to set aside a matching sum of money for purpose of pension safeguards in 1997 when the land fund becomes available to the SARG.

the

There is an obvious tactical advantage in this approach, or variation of it: we will then be challenging the Chinese to put their money where their mouth is.

v)

0821N

CONFIDENTIAL