Finances:
Objects:
for the objects and purposes of the church set out in the first schedule hereto (subject to any special charitable purposes as aforesaid) and subject thereto shall stand possessed of the trust fund:(a) so far as the same consists of money upon trust to exercise all or any powers of investment on such terms as deemed fit but subject always to the following conditions:(i) exercising the powers only within clear policy guidelines drawn up in advance by the elders (as defined in clause 1 of the third schedule hereto) and with the powers of investment therein conferred(ii) every transaction carried out by the trustees shall be reported to the elders within 28 days(iii) the elders shall be bound to review the arrangements for investments at least once in every 12 month period(b) so far as the same consists of property other than money upon trust either to retain the same for such lawful period as the trustees shall (subject to any direction of the elders) think fit or at any time or times at the discretion of the trustees to sell the same or any part or parts thereof and subject to the same provisions as are set out at (a) (i), (ii) and (iii) above, to invest the net proceeds of such sale and any other capital monies arising therefrom in or upon any investment
Copyright © Unlimited AI CIC 2021. Contact: contact@unlimitedai.co.uk Website: www.unlimitedai.co.uk
Figures are obtained from the UK charity commission. Contains public sector information licensed under the Open Government Licence v3.0. This website is not endorsed by the UK charity commission.
As an Amazon associate, Giving Results is funded by commission from sales made from adverts. Profits are re-invested into maintaining the website or similar charity based projects. Giving Results does not
place cookies on your browser or collect personal information, but clicking Amazon links will cause Amazon to place cookies on your browser. Cookie preferences can be configured on Amazon.
