New South Wales Consolidated Acts

STEWARDS' FOUNDATION OF CHRISTIAN BRETHREN ACT 1989 - SECT 11

11 Investments and loans

(1) The Foundation may invest or lend any funds held by it in accordance with the terms of any trust to which the funds are subject.

(2) The Foundation may also invest or lend any such funds:

(a) in accordance with and subject to the Trustee Act 1925 , or

(b) in loans, either secured or unsecured, to any Assembly or Assembly organisation on such terms and conditions as the Foundation thinks fit,

unless the investment or loan is expressly forbidden by the instrument (if any) creating the trust to which the funds are subject.

(3) If the Foundation lends funds (whether as an investment or not) to an Assembly or Assembly organisation, the funds advanced and any interest accrued on those funds are to be taken to be a charge on all assets held by the Foundation for the Assembly or Assembly organisation.