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(v)
the British Council will not levy a management charge.
We understand that interest earned on the donation would not be liable to tax under the terms of the British Council's charitable status in the UK.
3. I should be grateful if you would confirm that the above arrangements are acceptable to you. Subject to your confirmation I will arrange for the Hong Kong Government, in liaison with your representative in Hong Kong, to remit the necessary funds to you.
R C L Footman
Hong Kong Department