Modifications etc. (not altering text)
C1Pt. III (ss. 17–34) amended by Clergy Pensions (Amendment) Measure 1972 (No. 5, SIF 21:5), s. 6(3)
C2Pt. III (ss. 17–34) extended by Deacons (Ordination of Women) Measure 1986 (No. 4, SIF 21:5), s. 3(1)
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(1)The Board may invest any moneys comprised in a fund to which this section applies and available for investment in the purchase of any investments or property of any sort either real or personal and whether or not being investments or property authorised by the general law for the investment of trust funds, or upon loan upon the security of any property of any description or without security and may also from time to time vary such investments.
(2)Moneys comprised in a fund to which this section applies which the Board do not think fit immediately to invest may be deposited at any bank.
(3)In relation to land, whether freehold or leasehold, the Board may exercise all the powers of management of improvement which could be exercised by an absolute owner holding the land beneficially.
(4)The funds to which this section applies are the Clergy (Widows and Dependants) Pensions Fund established under section 13 of the M1Clergy Pensions Measure 1954, the Church Workers Pensions Fund established under section 27 of this Measure and any other pensions fund established under a pensions scheme by the Board after the commencement of the M2Clergy Pensions (Amendment) Measure 1982, being a fund which is to be administered by the Board.]