лопе
Sent.
Ms Saunders
Mr Ricketts
Mr Hum
Sir John Coles
PS/Mr Goodlad
FROM: Sarah Haspel Hong Kong Department DATE: ** February
CC: Legal Advisers
CRD
SIR S K TANG'S BEQUEST
Problem
1. To reach a decision on how best to administer the S K Tang Bequest made to HMG in 1986, and when to bring the funds over to the UK from Hong Kong.
Recommendations
2. I recommend that we follow the advice of the Secretary General of the Law Offices to set up a Royal Sign Manual which divides the money between the British Council and the Imperial Cancer Research Institute. I also recommend that we try to keep the British Council's portion in Hong Kong for as long as possible in order to maximise its effectiveness.
Background
2.
Sir S K Tang bequeathed to HMG £1 million shortly before his death in 1986. The terms of the Bequest as set out in his will, were vague but after further discussions between HMG and Sir S K Tang, it was agreed that one third of the funds would go to the Imperial Cancer Research and two thirds to fund Hong Kong students study in the UK, preferably under the administration of the British Council. Only the interest of the capital was to be used.
3. Since 1986 the funds have remained in Hong Kong and been administered on HMG's behalf by the Hong Kong Government. The Imperial Cancer Research element has remained untouched whilst, since 1988, two thirds of the accrued interest has been put towards funding the UK Hong Kong Merit Scholarship Scheme. The annual contribution from the Bequest is now £185,000 which is added to a further £40,000 from the FCOSAS budget, the total £225,000 is then matched by the Hong Kong Royal Jockey Club.
4.
Hong Kong Department have been in discussion since 1986 with Legal Advisers here and in Hong Kong, as well as with the Charity Commissioners about how to administer the
SKTANG/subjan