3 Grants or loans to the Church Urban Fund.U.K.
(1)The Commissioners shall have power at their discretion to make payments out of their general fund, whether by way of grant or loan, to the company registered under the M1Companies Act 1985 and known as the Church Urban Fund.
(2)Any payment made by the Commissioners by way of loan in exercise of their powers under this section may be made repayable by instalments or otherwise and either free of interest or subject to the payment of interest at such rate as the Commissioners may think proper.