TNAG-2892-FCO40-4165-Transfer-of-assets-from-the-Hong-Kong-Government-to-the-Spec-1993 — Page 19

CONFIDENTIAL

REGAT

370/23

لاحدود

103514

MDLOAN 8040

CONFIDENTIAL

FM FCO

TO ROUTINE HONG KONG

TELNO 708

OF 231623Z JULY 93

1993

STRY

IND.X

on Tuken

or?

AND TO ROUTINE PEKING, UKREP JLG HONG KONG

PERSONAL FOR PS/GH FROM MORRIS, PEKING PERSONAL FOR AMBASSADOR UKREP JLG PERSONAL FOR GALSWORTHY

HKD

TRANSFER OF ASSETS FROM HKG TO SARG

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New Admin File

1. We have given thought to the problem of how to ensure that the SARG inherits all HKG's assets after 1997, in particular Liquid assets. This problem arises from ambiguities in the Joint Declaration on exactly when the SARG will be created, and the position adopted by the Chinese that HKG's assets should be passed to the CPG which will then grant them to the SARG.

2.

Following an initial discussion with David Edwards earlier this year, we have prepared a paper setting out a proposed solution to this issue and timing for raising it with the Chinese. We are faxing this paper to you and would be grateful for your comments and those of other addressees.

HURD

YYYY

ΜΑΙΝ

65

.HK POLICY

HKD

PUSD

FED

DISTRIBUTION

72

NTCD

PLANNERS

RAD

LEGAL ADVISERS//MS BARRETT LEGAL ADVISERS//MISS BROOKS LEGAL ADVISERS//MR GILES NEWS D

PS

PS/MR GOODLAD

SIR J COLES

MR HUM

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