Coptic Orthodox Church (NSW) Property Trust Act 1990
10Blending of trust funds
Start here
Get a plain-English read of 10
Turn the raw legal text into a practical explanation grounded in Coptic Orthodox Church (NSW) Property Trust Act 1990.
10 Blending of trust funds
10 Blending of trust funds
(1) The Trust may invest trust funds held by it for different purposes or activities, or any part of those funds, as one fund (the fund).
(2) Any income arising from the investment of the fund may be distributed rateably for the benefit of carrying out the several purposes or activities for which the money invested is held on trust.
(3) Any loss arising from the investment of the fund is to be distributed rateably to the detriment of carrying out the several purposes or activities for which the money invested is held on trust.
(4) The Trust may make advances out of funds referred to in this section for any purpose of or relating to the Church.
(5) Any sum so advanced is to be taken to be an investment of the money and bears interest at a rate fixed by the Trust.
(6) The sum advanced, and any interest on that sum, is to be taken to be a charge on the assets held by the Trust for the purpose for which the advance is made.