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DIOCESAN TRUST FOR MINISTRY ACT 1997 (BALLARAT DIOCESE)

No. 26
DIOCESAN TRUST FOR MINISTRY ACT 1997

Be it enacted by the Bishop the Clergy and the Laity of the Anglican Church of Australia in the Diocese of Ballarat duly met in Synod according to law as follows:

1. This Act may be cited as the Diocesan Trust for Ministry Act 1997 and shall come into force upon the establishment of the Ministry Fund referred to in Section 35 (1) of the Parochial Government Act 1991.

2. A Fund is hereby established to be known as ‘the Diocesan Trust for Ministry’ (‘the Trust’).

3. The capital of the Trust shall consist of the following assets:

(a) Amounts receivable pursuant to Section 37 (4) of the Parochial Government Act 1991;

(b) Other capital sums as may be determined from time to time by Bishop-in-Council; and

(c) The net proceeds from any appeal or appeals conducted in the Diocese of Ballarat for the purpose of the Trust.

4. The Trust shall be managed by Bishop-in-Council with power to invest capital in accordance with the provisions of the Ballarat Diocesan Trustees Act 1988.

5. The net income of the Trust shall be paid to the credit of the Ministry Fund established pursuant to Section 35 of the Parochial Government Act 1991.

6. Bishop-in-Council shall present to the next ensuing Session of Synod following the end of each financial year an audited statement of the accounts of the Trust.