(1)The Commissioners shall hold an account to be called the redundant churches temporary maintenance account and shall transfer thereto any moneys which are payable to the said account under section 52.
[F2(1A)Any moneys transferred under subsection (1) above shall be held by the Commissioners as part of their corporate property and the Commissioners shall credit the redundant churches temporary maintenance account with an equivalent amount charged upon their general fund and shall allow interest at such rate as they may determine upon all sums credited to that account.]
(2)The Commissioners may apply moneys standing to the credit of the redundant churches temporary maintenance account by way of grant or loan to the [F3care, insurance] repair and maintenance of any redundant building vested in
[F4(a)the Commissioners or a diocesan board of finance pending the coming into operation of arrangements under a redundancy scheme;
(b)a diocesan board of finance pending the coming into operation of arrangements under a new or amended redundancy scheme;
(c)the Commissioners or a diocesan board of finance pending the coming into operation of arrangements under a pastoral scheme to which section 46 or 47 applies.]]
Textual Amendments
F1S. 78A inserted (1.4.1994) by 1994 No. 1, s. 10; Instrument dated 25.3.1994 made by Archbishops of Canterbury and York.
F2S. 78A(1A) inserted (1.1.2001) by 2000 Measure No. 1, s. 10, Sch. 6 para. 7; Instrument dated 14.12.2000 made by the Archbishops of Canterbury and York
F3Words in s. 78A(2) inserted (1.1.1999) by 1998 No. 1, s. 13(1), Sch. 5 para. 5(a); Instrument dated 14.10.1998 made by Archbishops of Canterbury and York.
F4Words in s. 78A(2) inserted for the words “a diocesan board of finance” to the end (1.1.1999) by 1998 No. 1, s. 13(1), Sch. 5 para. 5(b); Instrument dated 14.10.1998 made by Archbishops of Canterbury and York