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CLERGY ENDOWMENT FUND ACT (BALLARAT DIOCESE)

No. 20
CLERGY ENDOWMENT FUND ACT
ADMINISTRATION OF
THE CLERGY ENDOWMENT FUND

1. The Clergy Endowment Fund hereinafter called the Fund shall be administered by Bishop-in-Council. The existing Capital of the Fund of the Diocese of Ballarat and all Contributions thereto which shall be made hereafter shall be invested from time to time by the Bishop-in-Council in accordance with The Ballarat Diocesan Trustees and Powers of Investment Act.

2. All investments shall be made in the name of The Ballarat Diocesan Trustees.

3. The income arising from the monies so invested together with all monies to the credit of the Income Account of the said Fund shall after paying thereout all costs charges and expenses of and incidental to and attending the administration of the Fund be added to the income of the Central Diocesan Fund.

4. A statement of accounts for the preceding financial year duly certified by the diocesan auditor shall be prepared and placed before the Synod for its information at its next ensuing Session.