10Trust may make advances

10 Trust may make advances

10 Trust may make advances

(1) The Trust may make advances out of its trust funds for any activity, service, institution or interest of the Diocese or of a Parish.

(2) Any such advance is taken to be an investment of the funds concerned and is to bear interest at a rate fixed by the Trust.

(3) If the terms of any such advance so provide, the advance and any interest on the advance are a charge on those assets (if any) that the Trust holds for the activity, service, institution or interest of the Diocese or of a Parish for which the advance was made.

s 10: Am 2001 No 12, Sch 1 [10] [11].