Acts & Ordinances
Investment of Church Trust Property Ordinance 1990
(Reprinted under the Interpretation Ordinance 1985.)
The Investment of Church Trust Property Ordinance 1990 as amended by the Investment of Church Trust Property Ordinance 1990 Amending Ordinance 1998, the Miscellaneous Amendments Ordinance 2001 and the Investment of Church Trust Property Amendment Ordinance 2006.
An Ordinance to make further provision for the investment of church trust property.
Whereas it is expedient that existing provisions regulating the investment of church trust property be varied Now the Standing Committee of the Synod of the Diocese of Sydney in the name and place of the said Synod Hereby Ordains Declares Directs and Rules as follows -
1. In this Ordinance, unless inconsistent with the context or repugnant thereto -
2. (1) This Ordinance shall take effect on and from 1 April 1990.
(2) The Investment of Church Trust Property Ordinance 1978 shall cease to apply at midnight on 31 March 1990.
(3) The provisions of this clause shall not require the realisation of any investment made pursuant to the Investment of Church Trust Property Ordinance 1978.
3. The provisions of this Ordinance shall apply to every person who and corporation which holds Church Trust Property.
4. A person who or an organisation or corporation which holds Church Trust Property may not invest the same in any of the modes of investment authorised by the Trustee Act except to the extent that those modes of investment are authorised by this Ordinance.
5. A person who or an organisation or corporation which holds Church Trust Property may invest the same only in any one or more of the following investments -
6. An organisation any one or more of whose members are elected or appointed by the Synod or a corporation which holds Church Trust Property may lend the same if -
7. An organisation or corporation constituted by ordinance or Act of Parliament may, in addition, invest Church Trust Property held by it in such other modes of investment as may be authorised by that or any other ordinance or Act.
8. Any Church Trust Property held upon the trusts set forth in any instrument may be invested in such other modes of investment as may be authorised by that instrument.
9. No Church Trust Property shall be invested in any mode not authorised by clauses 5, 6, 7 and 8.
10. A trustee of Church Trust Property and any person organisation or corporation having the management or control of Church Trust Property may employ Sydney Diocesan Secretariat as his or its agent - if Sydney Diocesan Secretariat is willing to so act.
11. (1) A reference in an ordinance to the "Investment of Church Trust Property Ordinance 1978" (or to an ordinance repealed by that ordinance) shall be read or construed or taken to be or deemed to be or otherwise treated as a reference to the Investment of Church Trust Property Ordinance 1990.
(2) The Diocesan Secretary may, in reprinting an ordinance in which the first mentioned reference occurs, make such amendments to the ordinance as -
12. This ordinance is the Investment of Church Trust Property Ordinance 1990.
1. On 25 September 2006 the Standing Committee declared the following businesses to be disapproved businesses for the purposes of clause 5(k) -
(a) the manufacture, promotion, distribution or sale of armaments,
(b) a business which is illegal or immoral,
(c) the manufacture, promotion, distribution or sale of tobacco,
(d) the business of gambling or betting or directly connected therewith,
(e) the manufacture, promotion, distribution or sale of liquor,
(f) production, sale or distribution of 'X' or 'R' rated video or digital images, videos or films.
Clause 1 Amended by Ordinance No 32, 2001.
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