New South Wales Consolidated Acts

UNITING CHURCH IN AUSTRALIA ACT 1977 - SECT 37

37 Blending of trust funds

(1) Where the Trust holds money on trust for different purposes or activities it shall be lawful for the Trust from time to time to invest the money or any part or parts thereof as one fund and to distribute income arising therefrom rateably among the several purposes for which the money so invested is held and any loss arising from any such investment shall likewise be borne rateably.

(2) The Trust may make advances out of the money referred to in subsection (1) for any purpose of or relating to the Church.

(3) Any sum advanced under subsection (2) shall be deemed an investment of the money and shall bear interest at a rate fixed by the Trust and the sum advanced and the interest thereon shall be deemed to be a charge on the assets of the Church.