New South Wales Consolidated Acts

BAPTIST CHURCHES OF NEW SOUTH WALES PROPERTY TRUST ACT 1984 - SECT 20

20 Certain funds etc vested in the Trust

(1) On the appointed day:

(a) the trustees and managers for the time being of the funds or settlements associated with the Baptist Union and referred to in Schedules 1 and 2 shall be deemed to have retired,

(b) the Trust shall be deemed to be appointed or elected (as the case may require) in the place of those trustees and managers,

(c) any provision of an instrument and any resolution relating to, or to the trustees or managers of, those funds or settlements shall have no effect in so far as they are inconsistent with any provision of this Act or of any by-law in force for the time being and relating to those funds or settlements, including any such provision relating:

(i) to the convening or holding of, the quorum for, or the procedure or voting at, meetings of those trustees or managers, or

(ii) to the signing of cheques or other instruments or to any other procedural matter concerning the management of those funds or settlements, and

(d) any provision of an instrument referred to in paragraph (c) which, in the absence of this paragraph, would have the effect of preventing the Trust from exercising a power of investment conferred on it by this Act shall be deemed not to have that effect.

(2) Each loan made by the Trust from any of the funds or settlements referred to in Schedule 2 shall be made only with the consent of the committee of the Baptist Union known as the “Department of Home Ministries” or, if that committee has ceased to exist, of the committee of the Baptist Union which, in the opinion of the Trust when the loan is made, exercises functions similar to those exercised by the committee which was so known.

(3) Where, on or after the appointed day:

(a) a prescribed body is the trustee or manager of a trust fund or settlement, and

(b) the prescribed body:

(i) certifies that the trust fund or settlement is associated with the Baptist Union, and

(ii) consents in writing to the appointment of the Trust as the trustee or manager of the trust fund or settlement,

the Executive Committee may, by special resolution, appoint the Trust as trustee or manager, as the case may require, of that trust fund or settlement.

(4) On the passing of a special resolution under subsection (3), the provisions of subsection (1) (a)-(d) apply to and in respect of the trust fund or settlement to which the resolution relates in the same way as those provisions apply to and in respect of the funds and settlements referred to in Schedules 1 and 2.

(5) In subsection (3), "prescribed body" means:

(a) the Baptist Union, or

(b) the members for the time being of a committee of the Baptist Union.