TNAG-2815-FCO40-4061-Future-of-Hong-Kong-International-Rights-and-Obligations-(IR-1993 — Page 111

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1993-10-20 15:13 HK Monetary Authority

14

DRAFT

October 14, 1993

MEMORANDUM ON THE PROVISION OF SERVICES AND FACILITIES FOR THE 1997 ANNUAL MEETINGS OF THE BOARDS OF GOVERNORS OF THE WORLD BANK GROUP AND THE INTERNATIONAL MONETARY FUND IN HONG KONG.

A..

DATES OF THE 1997 ANNUAL MEETINGS

This Memorandum is agreed to on the understanding and condition that the Annual Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund (The Organizations) shall be held in Hong Kong from Tuesday, September 23, through Thursday, September 25, both inclusive, and that ancillary meetings will be held commencing possibly as early as Tuesday, September 16 and continuing after the Annual Meetings, possibly through Saturday, September 27,

B.

OBLIGATIONS OF THE HONG KONG GOVERNMENT

I.

ORGANIZATION

The Hong Kong Government hereby delegates to the Hong Kong Monetary Authority (HKMA) sole responsibility and authority for the obligations to be performed by the Hong Kong Government as set forth in this Memorandum. To this end, the HKMA and the Organizations have agreed on the arrangements described herein for the holding of the 1997 Annual Meetings, which may be supplemented or modified from time to time. The HKMA will exercise sole responsibility and decision-making power on behalf of the Hong Kong Government for the provision of services and facilities and for the disbursement of funds for the purposes of the Meetings, both before and after July 1, 1997, in accordance with these arrangements.

II.

SERVICES AND FACILITIES

The HKMA shall provide the services and facilities for the Meetings as set forth below. The Organizations have furnished to the HKMA copies of their manual entitled "Annual Meetings Requirements" (AMR) which serves as a guide to the requirements of the Meetings. The Organizations will update the requirements in the said manual as necessary, as may result from such circumstances as increased memberships and attendance, technological and other developments.