PJYAEK
Foreign and Commonwealth Office
London SW1A 2AH
Telephone 01-
270 2653
Your reference
GMO Briegel Esq
Legacy Officer
Our reference
The Institute of Cancer Research
HKD 286/1
Royal Cancer Hospital
17a Onslow Gardens
Date
30 January 1989
LONDON
SW7 3AL
SIR S K TANG DONATION
FINANCIAL ARRANGEMENTS
Thank you for your letter of 23 January which followed on from our earlier telephone conversation.
The purpose of this letter is to set out the conditions under which the donation to the Institute of Cancer Research will be made. They are as follows:
(a) The donation will be known as the "Sir S K Tang Fund".
(b) The Fund will be for the sole use of the Institute of Cancer Research, in perpetuity from the date of its receipt, who will assume responsibility for its proper administration.
(c) The Fund will consist of a principal sum of £333,333 plus an amount of accrued interest.
(d) The principal sum of £333,333 is to be invested in such a way as to guarantee its safety while earning a good acceptable rate of interest.
(e) The interest (accrued and earned) is to be used for whatever cancer research projects the Institute considers appropriate; but the principal sum must never be reduced by any form of expenditure or loan. Without the prior approval of the Hong Kong Department of the Foreign and Commonwealth Office.
(£) The Fund will be included in the Institute's annual statement of income and expenditure but in no other way is the Fund to attract publicity of any kind
(g) Until otherwise instructed an annual statement of account, covering the Sir S K Tang Fund, is to be sent to the Hong Kong Department of the Foreign and Commonwealth Office.
|