QD of folio (14) of HKD 286/1 of 1989 : Mrs Low's minute of 10 June
1986).
8. The Hong Kong Government subsequently confirmed that the Chief Secretary had accepted Sir S K's gift on HMG's behalf and that the money had been placed in a sterling account awaiting FCO's instructions (folio (16) of HKK 286/4 of 1986: Hong Kong telegram no 1931 of 21 June 1986 to FCO).
9. Informal approaches to the Treasury via Finance Department, FCO, revealead that if the money was accepted by HMG it would go straight into the Consolidated Fund as an extra receipt and no interest would be paid. Treasury were however prepared to agree with the FCO suggestion that the gift should be held in trust by the British Council and were content for FCO to proceed on those lines (folio R (17) of HK 286/4 of 1986: Mr Horton's (Finance Department) minute
of 16 July 1986).
10. Meanwhile Sir S K Tang died on 19 June 1986. His will contained no mention of the gift although clause 5 requested his trustees to :
"pay .... any donation which I have committed during my
lifetime but not yet paid out."
S (Annex C of folio (14) of HKD 286/1 of 1989: copy of Sir S K Tang's
will attached to Leeks (HK Government) letter of 27 April 1989).
11.
At a meeting on 20 August 1986 between FCO (CRD and HKD) and British Council representatives it was agreed that a Trust Fund would need to be established and Trustees appointed to administer the fund. British Council confirmed that they could not take on this responsibility from FCO but, for a fee, would be happy to T select, place and administer the students (folio (21) of HKK 286/4
of 1986 note of meeting of 20 August 1986).
:
12. British Council subsequently suggested a cost saving arrangement which would avoid the necessity for FCO to set up a Trust. The Council would administer the donation directly by arranging for it to be paid into an interest bearing "donation for special purposes (DSP)" account. The interest would be held on the British Council budget in Hong Kong to fund the proposed scholarship U scheme (folio (22) of HKK 286/4 of 1986: Ms J Boland's (British
Council) letter of 19 September 1986).
13. Sir S K Tang's widow and executer, together with his son and daughter, were informed of this proposal and said she was quite content for this to be left entirely in the hands of HMG and the Governor to handle with regard to both the educational and medical aspects (folio (27) of HKK 286/4 of 1986 HK telno 4049 of 5 December 1986).
:
14. A further year elapsed during which FCO gave further consideration to various options for using the money. It was finally confirmed that one third should go to the Institute of
No comments yet.
Private notes are available after approval.