103
}
Settlement and (b) under approved C.D.W. Schemes
and (c) the issues made from each source either
through the Hong Kong Government or direct.
The Government of Hong Kong, in order to comply
with United Kingdom accounting requirements
would have to submit a statement showing the
amounts received from H.M.G. in respect of
the grant under the Financial Settlement and issues therefrom made to the University. The University
for its part would submit an annual Statement of
Account in respect of C.D.W. Schemes in usual
form together with the comprehensive supporting
statement to cover receipts from both sources.
All of these statements would need to be certified
by the Director General of Colonial Audit.
5.
I should be grateful if in consultation
with the University authorities you would consider
whether these arrangements would be acceptable and,
the Monvensity
if so, to arrange for them to feet the conditions
necessary for them to qualify as an administering
authority for C.D. & W. schemes. As soon as these
conditions have been fulfilled I shall be
prepared to consider detailed C.D. & W. schemes
in the usual form, quoting the University as
administering authority, up to the limit of
£250,000.
6. In connection with the proposed grant of
£250,000 by H.M.G. towards the creation of an
Endowment Fund for the University which
is mentioned at B(iii)(a) on page 9 of the
Report of the Visitors, Grantham has suggested
in discussion on the subject that I should
seek