The Synod of Eastern Australia Property Act 1918
10Disposal of moneys arising from mortgage
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10 Disposal of moneys arising from mortgage
10 Disposal of moneys arising from mortgage
The trustees shall stand possessed of all moneys arising from any mortgage as aforesaid upon trust in the first place to pay and satisfy the existing mortgage, and as to the balance of the said moneys (if any), or in case there is no such existing mortgage, then as to the whole of the said moneys upon trust to apply the same, with the consent of the synod, in and towards the erection, improvement, or maintenance of any church, minister’s dwelling-house, or school-house upon the land so mortgaged as aforesaid, or upon any other land held by the trustees in trust for the same congregation.