Council share were set out in a draft letter of intent
dated 7th September 1988. But the British Council
considered that in view of the size of their gift they
should have a formal declaration of trust. They produced
a draft declaration, although the FCO felt that it was
over-elaborate and in some respects inconsistent with Sir
S.K. Tang's wishes.
8.
The FCO then wrote to Mr Venables at the
Charity Commission on 10th November 1989, on the
assumption that a "formal trust arrangement" for the
whole gift was to be set up. Mr Venables was asked to
consider (among other things) who would administer the
trust in the UK, on what terms, and with what powers.
The same approach is reflected in the FCO's letter to Mr
Venables dated 22nd May 1991: a trust is to be
established "in order to disburse one-third of the
accrued interest to the Institute of Cancer Research and
the remaining two-thirds of the interest to the British
Council to fund scholarships for Hong Kong students to
study in the UK".
9.
If a trust of this kind is to be set up, I
suggest that the documentation should consist of:
(1)
A Declaration of Trust, which would be executed
by the first Trustees (but not by the Attorney-