§ The Minister of State, Foreign and Commonwealth Office (Baroness Symons of Vernham Dean)The 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 six months ending on 30 September 2004, the British Council provided such assurances to four national lenders and undertakings to 85 private 12WS lenders. The value of the contingent liabilities outstanding on 30 September in respect of private lenders was £6,120,870. No liabilities to national galleries existed at that date.