28Co-operative use of property

28 Co-operative use of property

28 Co-operative use of property

(1) Where with the consents for the time being and from time to time prescribed by the General Assembly a congregation of the Presbyterian Church of Australia in New South Wales has, at a meeting duly called in accordance with the requirements of the General Assembly, resolved to enter into a scheme of co-operation with, or involving, a church of another denomination or any congregation or activity of such a church, being a scheme that involves the use of property vested in the Trustees, the Trustees may, while the scheme of co-operation continues in force, permit that property to be used, managed and administered in connection with that scheme in such manner and upon such conditions as the General Assembly determines or prescribes.

(2) The conditions that the General Assembly may determine or prescribe under subsection one of this section include conditions with respect to the making of contributions of money for the acquisition, construction, alteration or repair of assets vested in or held on behalf of a co-operating church or congregation upon such terms as to charges upon other assets and charges upon property vested in the Trustees for any such contributions from other denominations and otherwise as may be so determined or prescribed, and any such contributions by or on behalf of a congregation of the Presbyterian Church of Australia in New South Wales or towards assets of or held on behalf of such a congregation are, to the extent so determined or prescribed at the time of the contributions, hereby so charged.

(3) Neither the Registrar-General nor any person dealing bona fide and for value with any property vested in the Trust shall be bound to enquire whether any security or charge referred to in subsection two of this section exists or be deemed to have notice thereof or be bound thereby by virtue only of this Act or the existence of any scheme of co-operation under this section and:

(a) a conveyance, transfer or other assurance to such a person shall operate as a discharge of any security or charge so referred to, in so far as the property conveyed, transferred or assured would, but for this subsection, be subject thereto, and

(b) a mortgage or charge in favour of such a person shall have priority over any security or charge so referred to that affects the property mortgaged or charged in favour of that person.

(4) The proceeds of the sale, mortgage or other dealing with property referred to in this section, and all moneys collected or held in respect of a scheme of co-operation may be applied in such manner as the General Assembly determines or prescribes.