| Description | Includes papers regarding monthly settlements for the 25% surrenders; external criticism of the 25% surrender requirement; the Kahn report; the possibility of a reduction in 25% surrender versus a more generous emigration allowance; mechanics and effects of 25% surrender on Overseas Sterling Area (OSA) securities; measures to strengthen the capital account and the exchange rate including the possible extension of the 25% surrender requirement to OSA securities; and the advantages and disadvantages of the 25% surrender requirement. Also includes a memorandum on the 25% surrender rule as it affects invisible earnings by The Association of Investment Trust Companies, 14th April 1969; a memorandum to the Chancellor of the Exchequer on taxation by The Stock Exchange, 13th October 1972; and an article titled 'Portfolio theory and the United Kingdom investment currency premium' by P K Woolley, September 1973. Indexed. |