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818588
registered interest false more like this
date less than 2018-01-08more like thismore than 2018-01-08
answering body
Attorney General more like this
answering dept id 88 more like this
answering dept short name Attorney General more like this
answering dept sort name Attorney General remove filter
hansard heading National Fund more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government what progress they have made in enabling the National Fund charity to make appropriate donations; and whether they intend to apply to the courts for a scheme allowing the Fund to be used for its original purpose. more like this
tabling member printed
Baroness Hayter of Kentish Town more like this
uin HL4465 remove filter
answer
answer
is ministerial correction true more like this
date of answer less than 2018-01-22more like thismore than 2018-01-22
answer text <p>The National Fund was created in 1928 with an initial anonymous donation of £500,000 with the aim of eventually extinguishing the national debt. It has accumulated significant funds through further donations and income over the years, as set out in the <strong><ins class="ministerial">attached </ins></strong>chart <del class="ministerial">below</del>. It is currently estimated to be worth over £460 million.</p><p>The terms of the deed of Trust for the National Fund are such that the Trustees are required to accumulate the net income and profits of the trust fund until the value of the fund along with its accumulated income, when added to the value of any other funds applicable for the same purpose, is sufficient to discharge the entirety of the National Debt. Given the terms of the trust, the money is currently ‘locked’ in the fund.</p><p>The Attorney General’s Office is working with the Charity Commission and the Fund’s trustees to help resolve this legally complicated matter.</p><p> </p><p> </p>
answering member printed Lord Keen of Elie more like this
question first answered
less than 2018-01-22T14:42:46.04Zmore like thismore than 2018-01-22T14:42:46.04Z
question first ministerially corrected
less than 2018-05-16T10:48:18.387Zmore like thismore than 2018-05-16T10:48:18.387Z
answering member
4538
label Biography information for Lord Keen of Elie more like this
attachment
1
file name Chart 2.pdf more like this
title Chart more like this
previous answer version
35717
answering member printed Lord Keen of Elie more like this
answering member
4538
label Biography information for Lord Keen of Elie more like this
tabling member
4159
label Biography information for Baroness Hayter of Kentish Town more like this