10Variation of Trusts

10 Variation of Trusts

10 Variation of Trusts

(1) Subject to this section, where the General Assembly has, by resolution, declared:

(a) that, by reason of circumstances arising since the creation of the trusts (including trusts declared pursuant to this section) upon which property specified in the resolution is by this Act vested in the Trust, it has, in the opinion of the General Assembly, become impossible or inexpedient for the Trust to carry out or observe those trusts, and

(b) that the property so specified should, in the opinion of the General Assembly, be held upon such trusts for, or for the use, benefit or purposes of, the Presbyterian Church of Australia in New South Wales as it specifies in the resolution,

the property to which the resolution relates shall thereafter be held by the Trust upon the trusts specified in the resolution, freed and discharged from the trusts upon which it was held immediately before the resolution.

(2) The General Assembly shall not make a declaration under subsection one of this section unless it has been requested so to do by the Trust and the Trust shall not, where the property in question is congregational property, make such a request unless it has first received and considered a report on the matter by the Presbytery of the bounds.

(3) Subject to subsection four of this section, the trusts upon which property is to be held pursuant to subsection one of this section shall be as nearly as practicable the same as the trusts upon which it was held immediately before the resolution referred to in that subsection including, in the case of property held on behalf of a congregation that continues as a congregation after the resolution, trusts whereby the property is to be dealt with for the use and benefit of that congregation.

(4) Subsection three of this section shall not apply to or in respect of a resolution referred to in subsection one of this section where, by the resolution, the General Assembly has further declared that, to the extent that subsection three of this section has not been complied with, the circumstances referred to in subsection one of this section have rendered it impossible or inexpedient to do so.

(5) A document that purports to be a copy of a minute of a resolution referred to in subsection one of this section shall, if certified by the Clerk of the General Assembly for the time being to be such a copy, be conclusive evidence that the resolution was, on a day specified by the Clerk in the certificate, duly made by the General Assembly and that all conditions precedent to the making of such a resolution were fulfilled.