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Clergy Pensions Measure 1961

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Changes over time for: Cross Heading: Financial Provisions

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Version Superseded: 01/05/2003

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Financial ProvisionsE

17 Payments out of general fund of Commissioners.E

[F1(1)Subject to section 7 of the Pensions Measure 1997 (which relates to the use of capital funds), all payments to be made by the Commissioners under subsection (2) below shall be made out of their general fund.

(2)The Commissioners shall pay to the Board such sums as are required by the Board for the payments to be made by them under the past service scheme.]

(3)The Commissioners shall have power to make from time to time to the Board grants out of their general fund [F2or loans] of such amounts as they may think expedient [F2and, in the case of any loan, on such terms as they think fit] for any purpose connected with the payment of pensions to [F3retired scheme members or to the widows, widowers and dependants of deceased scheme members][F2or with the powers of the Board under section 26 of this Measure].

18 Clergy (Widows and Dependants) Pensions Fund.E

(1)The Board shall continue to administer the Clergy (Widows and Dependants) Pensions Fund established under the M1Clergy Pensions Measure 1954.

[F4(2)The Board shall pay out of the said Fund all payments required to be made by them in respect of contributions or other sums received by them under section 11, 13, 14 or 15 of this Measure.]

(3)If at any time it appears to the Board, after the valuation provided for by subsection (4) of section thirty-four of this Measure, that the Clergy (Widows and Dependants) Pensions Fund is more than sufficient to discharge the liabilities imposed on them by [F5in respect of contributions or other sums received by them under section 11, 13, 14 or 15 of this Measure], the Board may direct, . . . F6, that the surplus or any part thereof be applied [F7for the increase of pensions or capital sums payable in respect of those contributions or other sums].

19 Clergy Pensions Augmentation Fund. E

The Board shall continue to administer the Clergy Pensions Augmentation Fund established under the M2Clergy Pensions Measure 1948 and shall pay into that fund any testamentary or other gifts made to the Board:—

(a)for the relief of poverty in the case of any retired clerk; or

[F8(b)for the provision of homes of residence for retired clerks and their spouses, and for the widows, widowers and dependants of deceased clerks, in accordance with the provisions of section twenty-six of this Measure;]

and, subject to any conditions imposed by the testators or other donors, the Board may at their discretion apply the fund or any part thereof for those purposes.

Textual Amendments

Modifications etc. (not altering text)

C1S. 19 explained as to provision of houses of residence by Clergy Pensions (Amendment) Measure 1967 (No. 1), s. 4(2)

Marginal Citations

20 Clergy (Widows and Dependants) Pensions Augmentation Fund. E

(1)The Board shall continue to administer the Clergy (Widows and Dependants) Pensions Augmentation Fund established under the M3Clergy Pensions Measure 1948 and shall pay into that fund any testamentary or other gifts made to the Board:—

(a)for the relief of poverty in the case of any widow [F9widower], child or dependant of a deceased clerk; or

(b)for the provision of homes of residence for the widows [F9widowers] and dependants of deceased clerks in accordance with the provisions of section twenty-six of this Measure;

and, subject to any conditions imposed by the testators or other donors, the Board may at their discretion apply the fund or any part thereof for those purposes.

(2)The Board shall pay into a separate account of the said fund any sums received from a diocese for the relief of poverty in the case of any widow [F10widower] or dependant of a deceased clerk, and the Board shall hold any such sums on behalf of the diocese by whom they were paid and shall add to those sums interest, at such rate as the Board may from time to time determine, on any amount held by the Board for that diocese under this subsection for a calendar year.

(3)The Board shall pay out of the said account any payments required to be made by them for the said purpose by a diocese, not exceeding in aggregate the total of the sums paid to them by that diocese together with any interest payable thereon under the last foregoing subsection.

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