Jee folio (625
HKA 233/1
Private Secretary
secretang
The miniter agrees
G.J.
CONFIDENTIAL
6. J. Davey' 17/11
Crot 17/1
Mr Ham
PS/Mr Goodrad
(received 1830) Ср
Mimi
As
7111
Private Secretary
620)
Surton of State
FROM: P F Ricketts
Hong Kong Department
DATE : 17 November 1992
cc: Mr Kerby, ODA
Mr Muir
Mr Fish, ODA East
PS/Governor
سه
뮤
Iesul
дина
Kilbride
HONG KONG : HMOCS : MINUTE TO THE CHIEF SECRETARY
1. The Secretary of State agreed at his meeting with the Chief Secretary on 16 November that we would put a revised
proposal to the Treasury today if possible, reflecting further consultations with the Governor.
2. I submit a draft minute from the Secretary of State.
This reflects a series of discussions with the Governor and
incorporates comments from his staff based on overnight consultation with Hong Kong.
3.
The Governor remains firmly of the view that we would not
be able to impose on HMOCS officers a safeguard rate more adverse than 16:1. He feels strongly that we should seek to
bargain his willingness to consider right to retirement at
Hong Kong Government expense (which would reduce HMG's contingent liability for sterling safeguards) against Treasury agreement to a 16:1 safeguard rate. The draft reflects this
approach.
PF Ricketts
chiefsec.HMOCS.kr
CONFIDENTIAL
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Private notes are available after approval.