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Diocesan Boards of Finance Measure 1925

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1 Diocesan Boards of Finance.E+W+S+N.I.

(1)Subject to the provisions of this Measure, the [F1Diocesan Synod] of every diocese shall proceed to constitute for such diocese a Diocesan Board of Finance conforming with the provisions of this Measure.

(2)Subject to the provisions of this Measure, every Diocesan Board of Finance shall be registered as a Company under the [F2Companies Acts 1948 to 1967], with a Memorandum and Articles of Association containing provisions to the following effect, that is to say:—

(a)empowering the Company to hold real and personal property for purposes connected with the Church of England;

(b)empowering the Company to perform, work and to transact business in connection with the Church of England and the diocese concerned and to act as a committee of the [F1Diocesan Synod] of such diocese;

(c)conferring such further powers on the Company as the [F1Diocesan Synod] of the diocese concerned may think necessary or expedient in view of the requirements of the diocese;

(d)providing that the Bishop of the diocese concerned shallex officiobe a member of the Company entitled to vote at meetings of the Company, and that the other members of the Company entitled to vote at meetings of the Company shall not exceed a specified number, not less than three-fourths of whom shall be elected by the [F1Diocesan Synod] of the diocese concerned (or, if the Memorandum and Articles of Association so provide or allow, wholly or in part by the [F3Deanery Synod] of the diocese), and the remainder of whom shall be elected, nominated or co-opted in such manner as the Memorandum and Articles of Association may provide or allow, but so that—

(i)not less than two-thirds of the members of the Company elected by the [F1Diocesan Synod] or the [F3Deanery Synods] as the case may be shall be members of the [F1Diocesan Synod]; and

(ii)a majority of the members of the Company shall be laymen.

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Amendments (Textual)

F2Words substituted by virtue of Interpretation Measure 1925 (No. 1), s. 1.

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