HO KONG : THE LATE SIR SHIU-KIN TANG'S GIFT OF £1 MILLION TO HMG 1966
1. On 10 March 1986, Sir S K Tang, a noted Hong Kong philanthropist, wrote to the Territory's Chief Secretary, stating that he proposed to donate a sum of £1 million as a Foundation Fund from which the accrued interest should be used for charitable
K purposes in the UK at the complete discretion of HMG (folio (1) of
HKK 2186/4 of 1986).
"Capto
2. FCO was notified of the offer and after careful consideration HK Department responded with preliminary proposals for the possible use of the money.
These included the establishment of a chair of Hong Kong studies at a British University; the establishment of a fellowship to assist research into Hong Kong affairs, or help for Hong Kong students welfare (folio (7) of HKK 286/4 of 1986 paras 3-4 Lof FCO telno 708 of 18 April 1986 to Hong Kong).
3. As an alternative use for the gift FCO, after consultation with the Charity Commissioners in UK, suggested an arrangement whereby HMG could accept the donation and then distribute it to a number of deserving charities. But it was recognised that this would involve certain complications, not least the need to draw up a trust deed and to establish a board of trustees to administer the fund (folio M (6) of HKK 286/4 of 1986 : Mr Leeks minute of 17 April 1986 and Lfolio (7) of HKK 286/4 of 1986 : para 5 of FCO telno 708 of 18 April
1986 to Hong Kong).
4. Sir S K Tang
ndicated that he did not wish to become involved in setting up a new trust, but he equally did not wish the capital itself to be drawn on. He also emphasised that he did not want any publicity from the exercise. He favoured using the interest from two thirds of the gift for funding scholarships for Hong Kong
ʼn students to study in UK (administered by the British Council if this could be arranged) and donating the interest from the remaining one third to a medical trust eg Cancer Research (folio (8) of HKK 286/4 Nof 1986: Hong Kong telno 1377 of 7 May 1986 to FCO). Sir SK Tang
also made it clear that he wanted no publicity.
5. In response to Sir S K's wish expressed shortly thereafter to hand over his gift, the Hong Kong Government proposed that the money should be accepted and paid into a sterling deposit account in Hong Kong until such time as a decision had been reached as to what to do Owith it (folio (10) of HKK 286/4 of 1986: PGO telegram No
PGO telegram No 1969 of 6 June 1986).
HK.
२०.
1746
FCO agreed (folio (12) of HKK 286/4 of 1986 : FCO telegram no 1069 of 6 June 1986).
1.
on
Hong Kong Government records show that Sir S K Tang handed over a cheque for HK$11,685,500 (ie £1 million) to the Chief Secretary
10 June 1986 (annex C of folio (14) of HKD 286/1 of 1989: Mrs Law's minute of 23 June 1986 to PS/Government House). The Chief Secretary intended sending a personal letter (no copy available) to Sir SK so that there was no need to issue a separate receipt (annex
A
No comments yet.
Private notes are available after approval.