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Edinburgh Merchant Company Order Confirmation 1996

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Application of funds of Company

19The general fund shall be held by the Company and managed, administered and applied by the Master’s court in the following manner:—

(1)for payment of the expenses of management of the Company (including payments authorised under section 14 (Company may provide pensions, etc., for officials) of this Order);

(2)for payment of allowances or annuities to indigent members;

(3)for the good and utility of the Company;

(4)for any other purpose to which the general fund may be lawfully applied in terms of the existing charters and this Order and the customs and usages of the Company; and

(5)for payment of any sums of money to be transferred to the widows' fund pursuant to section 21 (Power to contribute to widows' fund from general fund) of this Order.

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