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Edinburgh Merchant Company Order Confirmation 1996

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Widows' fund to be managed and administered by trustees

63The widows' fund shall be held, managed, administered and applied by the trustees in the following manner:—

(a)for payment of the expenses of management of the widows' fund (including payments authorised under section 50 (Contributors may provide pensions, etc., for officials) of this Order);

(b)for payment of annuities to the widows of contributors;

(c)for payment of annuities or benefits to such new class or classes of beneficiaries as may be created in pursuance of section 83 (Power to introduce new classes of beneficiaries) of this Order;

(d)for refund of payments in pursuance of section 71 (Contributors may refund payments) of this Order;

(e)for refund of payments made by female contributors who, at the commencement of this Order, were married to a contributor; and

(f)for the purchase of annuities for existing annuitants.

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