Finances of the British royal family are not subject to legislation concerning income tax, capital gains tax or inheritance tax. Furthermore, the Sovereign has no legal liability to pay such taxes. The Duchy of Cornwall has a Crown exemption and the Prince of Wales is not legally liable to pay income tax on Duchy revenues. A "Memorandum of Understanding on Royal Taxation" was published on 5 February 1993 and amended in 1996, 2009 and 2013. It is intended that the arrangements in the memorandum will be followed by the next monarch. The memorandum describes the arrangements by which The Queen and The Prince of Wales make
Queen Elizabeth 2 ship with the words "I name this ship "Queen Elizabeth the Second"," the normal short form of address of the monarch, Elizabeth II herself. The following day, the "New York Times" and "British Times" printed the name as "Queen Elizabeth II", the short form of written style of the monarch. However, when the liner left the shipyard in 1968 she bore the name "Queen Elizabeth 2" on her bow, and has continued to do so ever since. In an authorised history of "Queen Elizabeth 2" published in 1969, various explanations of events occur. These state that, as at the launch