CONFIDENTIAL
CONFIDENTIAL
FM HONG KONG
TO DESKBY 11090OZ F CO
TELNO 4691
OF 11074OZ DECEMBER 87
Ни C230
RECEIVED IN REGISTRY
1
3 1 DEC 1987
DESK OFFICER
INDEX
PA
045201
MDHIAN 0117
TOP COPY
FOR HUM, HKD FROM POLITICAL ADVISER THE BRADBURY TRUST
THIS CHARITY WAS SET UP IN 1964. IT CURRENTLY HAS ASSETS WITH
A VALUE OF OVER HKD500 MILLION. IN THE PAST 17 YEARS IT HAS DISTRIBUTED OVER HKD145 MILLION FOR CAPITAL WORKS TO A VARIETY OF HONG KONG CHARITIES INCLUDING, FOR EXAMPLE, BRADBURY SCHOOL. THE TRUSTEES ARE THE HONGKONG BANK TRUSTEE LIMITED.
2. AN APPLICATION WILL BE MADE TO THE COURT ON 16 AND 17 DECEMBER 1987 TO SEEK DIRECTIONS FOR THE ADMINISTRATION OF THE CHARITY. UNDER THE TERMS OF THE TRUST DEED DATED 12 MARCH 1964 THE TRUSTEES ARE OBLIGED TO INVEST THE FUND AND TO APPLY THE INCOME TO ''BRITISH CHARITABLE INSTITUTIONS REGISTERED IN HONG KONG OR THE UK BY AN ORDER OF THE COURT DATED 5 NOVEMBER 1975 THE PHRASE BRITISH
CHARITABLE INSTITUTIONS ETC. HAS BEEN HELD TO MEAN I 'CHARITABLE INSTITUTIONS ESTABLISHED IN HONG KONG OR IN THE UNITED KINGDOM RECORDED AS APPROVED CHARITABLE INSTITUTIONS FOR THE PURPOSE OF SECTION 88 OF THE INLAND REVENUE ORDINANCE (CAP. 112) OF CURRENTLY
ON THE CENTRAL REGISTER OF CHARITIES MAINTAINED IN THE UNITED KINGDOM PURSUANT TO SECTION 4 OF THE CHARITIES ACT 1960.
3. THE TRUSTEES ARE NOW SEEKING THE FOLLOWING FURTHER DIRECTIONS:
QUOTE '' (I) WHETHER PRIOR TO JULY 1997, IN THE EXERCISE OF ITS DISCRETION THE TRUSTEE CAN CONTINUE TO MAKE DONATIONS TO CHARITIES RECOGNISED AS SUCH FOR THE PURPOSES OF THE HONG KONG
INLAND REVENUE ORDINANCE (CAP. 112) ALL OR PART OF WHICH MAY BE
APPLIED TO CAPITAL PURPOSES IN HONG KONG.
(II) WHETHER FROM AND AFTER JULY 1ST 1997, IN THE EXERCISE OF ITS DISCRETION THE TRUSTEE SHALL MAKE DONATIONS EXCLUSIVELY TO
CHARITIES REGISTERED AS SUCH UNDER THE UNITED KINGDOM CHARITIES ACT 1960 OR SUCH LEGISLATION AS SHALL REPLACE SAME.
(III) FOR THE APPOINTMENT FORTHWITH OF HONGKONG BANK INTERNATIONAL TRUSTEE LIMITED, A COMPANY INCORPORATED IN THE BRITISH VIRGIN
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