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Endowments and Glebe Measure 1976

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35 Further provisions relating to diocesan stipends funds. U.K.

(1)At the end of paragraph (a) of section 2 of the M1Diocesan Stipends Funds Measure 1953 (moneys to be allocated to capital and income accounts), there shall be inserted the following sub-paragraph :—

(iv)any moneys standing to the credit of the income account of the fund which the Commissioners with the consent of the diocesan board of finance concerned decide to transfer to the capital account of that fund ; and.

(2)For section 4 of the said Measure of 1953 there shall be subtituted the following section :—

4(1)Subject to any charges imposed on the capital of the diocesan stipends fund of a diocese by any enactment or any scheme or oder made under any enactment, moneys standing to the credit of the capital account of that fund may, at the discretion of the Commissioners on the request of the bishop made with the concurrence of the diocesan board of finance, be applied for any or all of the following purposes:—

(a)the acquisition of any land to be held by the board as part of the diocesan glebe land of the diocese ;

(b)the development or improvement of any such land and the safeguarding of the amenities thereof ;

(c)the discharge of any expense of a capital nature levied uner any enactment and payable by the diocesan board of finance as the person for the time being entitled to the interest in any such land by reference to which the expense was levied ;

(d)the discharge of any principal or interest owing in respect of any loan made in respect of any such land ; and

(e)the discharge of any principal or interest owing in respect of any loan made to the board by the Commissioners under section 36 of the Endowments and Glebe Measure 1976.

(2)In this section “development”, in relation to a building, includes the division or demolition thereof and “diocesan glebe land” has the same meaning as in the Endowments and Glebe Measure 1976.

F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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C1The text of ss. 9, 18(4)(5), 35, 38(1), 41, 44, 47(1)(4), Sch. 5 and Sch. 8 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991

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