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Knapping Fund



Knapping Fund



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The Knapping fund was administered by the National Gallery until 1992, when a private charitable body was established in order to oversee the continuing investment of capital produced by the fund. The fund was designed for the benefit of the National Gallery, the national galleries of Scotland and Wales and the Tate Gallery. The Trustees of the National Gallery were stated as being responsible for the administration of the fund. Paintings purchased by the Fund were largely transferred to the Tate Gallery or originally purchased by the Tate, as the fund was established in order to acquire works by 'artists [...] living at or within 25 years before the time of the purchase.' In 1954 it was deceided that the fund would best serve its stated purposes if it was split between the institutions it concerned, with 2/3 of the fund allocated to the Tate, 2/9 to the National Gallery of Scotland and 1/9 to the National Museum of Wales.

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