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Joan Collins holds her insignia of Dame Commander of the British Empire, after it was awarded to her by Britain's Prince Charles at an Investiture Ceremony, at Buckingham Palace in central London, Thursday March 26, 2015. (AP Photo/John Stillwell, Pool) Image Credit: AP

She is best known as Dynasty’s scheming Alexis Colby, but it was for her charitable work that Joan Collins was honoured on Thursday.

The mother-of-three was accompanied by her fifth husband Percy Gibson, 49, and her 51-year-old daughter Tara Newley to a lavish ceremony at Buckingham Palace where she was awarded her damehood by Prince Charles.

The veteran actress, 81, wore a striking white dress with a cape that she designed herself for the occasion, topping off her typically glamorous ensemble with a pillbox hat complete with a veil.

After the ceremony the star posed for pictures with her proud daughter, who also turned heads in an eye-catching red Vivienne Westwood dress and tartan jacket.

Dame Joan said she was “thrilled” to be a Dame of the British Empire, adding: “Not in a billion years did I think I would be made a Dame, it never crossed my mind. It wasn’t anything I aspired to, I just wanted to be jobbing actress and somebody who could still perform.”

She went on to say: “I hope I can live up to what being a Dame means. When you go to the Royal Academy of Dramatic Art, becoming a Dame is not something that is expected, it’s not on the curriculum.”

The star also revealed that while accepting her DBE from Prince Charles, they had a “very, very nice chat” about The Prince’s Trust.

Her charity work includes supporting the NSPCC, breast cancer research and children with learning disabilities.