The Australian Committee of the Cambridge Commonwealth Trust was inaugurated at a meeting at Yarralumla convened by HRH the Prince of Wales in March 1983. Sir Mark Oliphant was appointed the first Chairman but resigned after a few months and was followed by Hon. Peter Howson who remained in the position until 1996. The Cambridge Australia Trust, as it became known, encouraged donations particularly from Cambridge graduates to fund scholarships for Australian students who wished to study at Cambridge University in England. Early donors to the trust included Kerry Packer of Australian Consolidated Press and Coles Myer Limited. Its funds are managed through the Australian National University. The association was incorporated in 2010 as Cambridge Australia Scholarships Limited, a not-for-profit company limited by guarantee.