New South Wales Consolidated Acts

CHURCHES OF CHRIST IN NEW SOUTH WALES INCORPORATION ACT 1947 - SECT 19

19 Powers of Trust

The Trust shall have power:

(a) to hold on behalf of the Churches of Christ in New South Wales any real or personal property vested by Conference in the Trust, and to manage, administer, sell, exchange, mortgage, lease, dispose of or otherwise deal with such property in accordance with any direction of Conference made in that behalf,

(b) to hold on behalf of any Conference Committee or Conference Auxiliary any real or personal property vested by such Conference Committee or Conference Auxiliary in the Trust, and to manage, administer, sell, exchange, mortgage, lease, dispose of or otherwise deal with such property in accordance with any direction of such Conference Committee or Conference Auxiliary made in that behalf,

(c)

(i) to take in the name of the Trust and to hold any real or personal property devised, bequeathed, lent or otherwise made available by or under any will, deed of gift, deed of trust or other instrument for the benefit of the work or objects of Churches of Christ generally or for the support or advancement of any of the activities work or objects of Conference or of any Conference Committee or Conference Auxiliary whether any particular Church of Christ, Conference, Conference Committee or Conference Auxiliary activity, work or object is specifically named or referred to in such will, deed of gift, deed of trust or other instrument or not, and

(ii) where conditions attach to any real or personal property referred to in subparagraph (i) by any such will, deed of gift, deed of trust or other instrument, to manage, administer, sell, exchange, mortgage, lease, dispose of or otherwise deal with such property in accordance with such conditions, or where no conditions attach or in so far as such conditions do not extend or are not applicable to any such property to manage, administer, sell, exchange, mortgage, lease, dispose of or otherwise deal with such property in accordance with any direction of Conference made in that behalf, and

(iii) to apply the proceeds, profits or income of or arising from the management, administration, sale, exchange, mortgage, lease, disposal of or other dealing with such property as aforesaid in accordance with the conditions (if any) attaching thereto by such will, deed of gift, deed of trust or other instrument, or if no such conditions attach thereto or in so far as such conditions do not extend or are not applicable thereto, to apply such proceeds, profits or income in accordance with any direction of Conference made in that behalf,

(d) to purchase, lease or otherwise acquire and hold in the name of the Trust real or personal property as directed by Conference or by any Conference Committee, Conference Auxiliary or Church of Christ (of which the Trust is the Church Trustee under this Act) and to manage, administer, sell, exchange, mortgage, lease, dispose of or otherwise deal with any such property in accordance with the like directions,

(e) to act as Church Trustee for any Church of Christ in New South Wales in accordance with Part 5,

(f) to do all things necessary for the proper administration of the properties, estates, bequests or trusts held by the Trust subject to the limitations imposed by law,

(g) to refuse to hold or manage or administer any property in the hands of or acquired by any Conference Committee, Conference Auxiliary, Church of Christ or any trust unless directed by Conference that it shall not so refuse,

(h) to invest any moneys held by it and not otherwise required in such manner and on such security as may be directed by Conference or by any Conference Committee, Conference Auxiliary, Church of Christ, or trust on whose behalf the said moneys are held and failing any such direction to invest the said moneys in:

(i) securities authorised or deemed to be authorised by any law in force for the time being relating to the investment of trust funds,

(ii) any security which may in the opinion of the Trust benefit the work or objects of Conference, any Conference Committee, Conference Auxiliary, Church of Christ or trust on whose behalf the moneys are held,

(iii) loans to Conference, or to any Conference Committee, Conference Auxiliary or Church of Christ in New South Wales with or without security and on such terms and conditions as may be determined by the Trust, or

(iv) loans to any organisation where the principal moneys will be used for the support or advancement of the work or objects of the Churches of Christ in New South Wales,

(i) to borrow money for the purposes of the Trust,

(j) to enter into any agreement, contract, guarantee or other undertaking on behalf of and under the direction of any Church of Christ or of Conference or of any Conference Committee or Conference Auxiliary, and

(k) in the event of default being made in the repayment to the Trust of principal or interest in respect of any loan made to any Church of Christ or to Conference or to any Conference Committee or Conference Auxiliary and if that default has not been remedied within 60 days of written notice having been given to the person liable to make the repayment requiring repayment of the principal or interest, as the case may be, to sell, mortgage, lease or otherwise deal with the property of any such defaulting Church of Christ or of Conference or of any such Conference Committee or Conference Auxiliary, as the case may be, without any direction from that Church of Christ or Conference or that Conference Committee or Conference Auxiliary as if the Trust were the absolute owner thereof, but the Trust shall thereupon hold any excess money arising from any such sale, mortgage, leasing or other dealing in trust for that defaulting Church of Christ or for Conference or for that Conference Committee or Conference Auxiliary, as the case may be.