New South Wales Consolidated Acts

CHRISTIAN ISRAELITE CHURCH PROPERTY TRUST ACT 2007 - SECT 12

12 Trust may make advances

(1) The Trust may make advances out of its trust funds for any purpose of or relating to the Church.

(2) Any sum so advanced is taken to be an investment of the money and bears interest at a rate fixed by the Trust.

(3) The sum advanced, and any interest on that sum, is taken to be a charge on those assets (if any) that the Trust holds for the purpose for which the advance was made.