PART 2Glebe land
Dealings
I124Loans by Church Commissioners
1
The Church Commissioners may make a loan to a DBF for any of the following purposes—
a
the acquisition of land to be held as part of the diocesan glebe land;
b
the development or improvement of diocesan glebe land and the safeguarding of its amenities;
c
the discharge of any principal or interest owing under a mortgage or charge on diocesan glebe land.
2
A loan under this section may be of such amount and made on such terms and subject to the payment of interest at such rate as the Commissioners decide.
3
“Development”, in relation to a building, includes the division or demolition of the building.