3Establishment of pensions fund
(1)The funded scheme shall provide for the constitution and maintenance by the Board of a fund, to be known as “the Church of England Pensions Fund”, and the Board shall pay into that fund—
(a)all contributions received by the Board under section 4 below;
(b)all other moneys received by the Board for the purposes of the funded scheme.
(2)All payments in respect of pensions and lump sum payments arising or to be provided under the funded scheme shall be made by the Board out of the Pensions Fund.