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Concord West with Concord North Ordinance 2000

No 2, 2000

Long Title

An Ordinance to vary the trusts on which certain sale proceeds are held.

Preamble

A. By the Concord West with Concord North Land Sale Ordinance 1996 (the "Principal Ordinance") certain land was authorised to be sold and the application of part of the proceeds was authorised.

B. The Principal Ordinance required the churchwardens to promote a further Ordinance to deal with all amounts invested under the Principal Ordinance which have not been applied or authorised to be applied under the Principal Ordinance (the "remaining proceeds").

C. The Property Trust holds the remaining proceeds.

D. By reason of circumstances which have arisen after the creation of the trusts on which the remaining proceeds are held it is inexpedient to carry out and observe the same and it is expedient that the trusts be varied as provided herein.

The Standing Committee of the Synod of the Diocese of Sydney Ordains as follows -

1. Name

This Ordinance is the Concord West with Concord North Ordinance 2000.

2. Declaration of Expediency

By reason of circumstances which have arisen after the creation of the trusts on which the remaining proceeds are held it is inexpedient to carry out and observe the same and it is expedient that the trusts be varied as provided herein.

3. Application of Remaining Proceeds

The Property Trust is authorised to apply the remaining proceeds as follows -

(a) in payment of the costs of and incidental to promoting this ordinance; and

(b) an amount of up to $100,000 in addition to the amount authorised in clause 4(b) of the Principal Ordinance for the purpose set out in that clause; and

(c) the balance and any interest earned thereon upon written request of the churchwardens of Holy Trinity, Concord West pursuant to a resolution from the parish council of the parish of Concord West with Concord North (the "Parish") for the renovation and renewal of Parish properties.

I Certify that the Ordinance as printed is in accordance with the Ordinance as reported.

P G KELL
Deputy Chairman of Committees

I Certify that this Ordinance was passed by the Standing Committee of the Synod of the Diocese of Sydney on 24 January 2000.

M A PAYNE
Secretary

I Assent to this Ordinance.

R H GOODHEW
Archbishop of Sydney
27/1/2000