According to the BBC, Charity Commission questions Andrew Lloyd-Webber’s display of Waterhouse’s St. Cecilia in a theater during the run of Lloyd-Webber’s musical, Woman in White:

It was among four masterpieces bought by the foundation since it was set up by Lord Lloyd-Webber in 1992. He stepped down as a trustee in September last year. The composer donated more than £28m towards the cost of the works – by Waterhouse, Picasso, Canaletto and Stanley Spencer.

Under charity law, the foundation has to ensure the paintings are made available for public display, and not used to benefit Lord Lloyd-Webber. Trustees had “on several occasions” told the commission it was unable to find suitable public venues to display its paintings, The Charity Commission said in its 22-page report. The foundation’s decision to hang St Cecilia in the Palace Theatre foyer initially concerned the commission.

No Action Over Lloyd Webber Art Row (BBC News)