TNAG-1981-FCO40-2814-UK-Hong-Kong-Scholarship-Scheme-donation-to-the-UK-Governme-1989 — Page 219

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(v)

the British Council will not levy a management charge.

We understand that interest earned on the donation would not be liable to tax under the terms of the British Council's charitable status in the UK.

3. I should be grateful if you would confirm that the above arrangements are acceptable to you. Subject to your confirmation I will arrange for the Hong Kong Government, in liaison with your representative in Hong Kong, to remit the necessary funds to you.

R C L Footman

Hong Kong Department