§ Mr. JenkinsTo ask the Secretary of State for Foreign and Commonwealth Affairs how many indemnity undertakings were given by his Department in respect of loss or damage to works of art loaned to the British Council for exhibition overseas for the 12-month period ended March 2002; and what the value was of contingent liabilities in respect of such undertakings which remained outstanding at that date. [72877]
§ Mr. MacShaneThe British Council, although not a Government Department, receives a substantial grant-in-aid from the Foreign and Commonwealth Office. The Council regularly organises or sponsors exhibitions overseas of works of art loaned from national galleries and private collections in the United Kingdom. It provides certain assurances or guarantees in respect of loss or damage while these works are on loan.
In the 12-month period ended 31 March 2002 the British Council provided such assurances to four national lenders and undertakings to 193 private lenders. The value of the contingent liabilities that remained outstanding as at 31 March 2002 in respect of private lenders was £4,358,822. No contingent liabilities remained outstanding at this date in respect of national lenders.