(i)
that the Scheme should normally seek to offer some
nine new awards each year as well as covering the costs of
those students continuing on course for a second or third
year;
(ii)
the United Kingdom will continue to share overall
costs on an equal basis with the Hong King side ie the Royal
Hong Kong Jockey Club;
(iii)
the British Government will continue to contribute
through the FCO scholarships programme the sum of £40,000
each year from the Foreign and Commonwealth Scholarships
Awards Scheme (FCOSAS);
(iv)
the annual balance of the UK's share of funding
for the scheme will continue to be a charge on up to the two
thirds of the interest (accrued and current) from the late
Sir Shiu-kin TANG's Bequest;
(v)
of the two options presented for increased funding
of the Scheme at Appendices II and III, the UK side whilst
appreciating the simpler budgetary control and planning
convenience of a fixed sum contribution, would for official
accounting reasons prefer the option at Appendix II whereby
the necessary funds are drawn down from the Bequest interest
on the basis of each year's actual scholarships costs.
Agreement on the foregoing would take us forward for the
next 5 years up to 1996/97. We shall however need more time
the arrangements for the operation and placing of
the Sir SK Tang Bequest post-1997.
For that reason We
CHBAEX