New South Wales Consolidated Acts

STEWARDS' FOUNDATION OF CHRISTIAN BRETHREN ACT 1989 - SECT 12

12 Blending of trust funds

(1) If the Foundation holds funds on trust for different purposes or activities, it may:

(a) invest the funds or any part of the funds as one fund, and

(b) distribute income arising from the investment of the fund rateably for the benefit of carrying out the several purposes or activities for which the funds invested are held on trust.

(2) Any loss arising from an investment in accordance with this section is to be distributed rateably to the detriment of carrying out the several purposes or activities for which the funds invested are held on trust.

(3) The Foundation may make advances out of money referred to in this section to any Assembly or Assembly organisation.

(4) Any sum so advanced is to be taken to be an investment of the money and bears interest at a rate determined by the Foundation.

(5) The sum advanced, and the interest on that sum, is to be taken as a charge on all the assets held by the Foundation for the Assembly or Assembly organisation.