Barrister AI
All legislation
TASAct
In force
This is the latest official compilation.Check the official source →
s 12A

Variation of trusts

In force

12A Variation of trusts

The Synod may make an ordinance empowering the Diocesan Council to make a request by resolution to the corporate trustees to – declare by resolution any trusts, to which any property vested in the Church is for the time being subject, to be varied if the Diocesan Council is of the opinion that it has become impossible or inexpedient to carry out or observe those trusts; and declare, by the same or a subsequent resolution, other trusts for, or for the use, benefit or purpose of, the Church instead of the first-mentioned trusts.

If the corporate trustees make a resolution referred to in subsection (1), the trusts first-mentioned in that subsection, by force of that resolution, cease and determine and the property vested in those trusts is to be held on the other trusts accordingly.

Any property in respect of which other trusts are declared under this section is to be dealt with for the same purposes as nearly as practicable as the purposes for which the property was held in accordance with the trusts first-mentioned in subsection (1) unless the corporate trustees make a resolution declaring that, by reason of circumstances subsequent to the creation of those trusts, it is, in the opinion of the corporate trustees, impossible or inexpedient to deal with or apply that property or some part of it for the same or like purposes.

If the corporate trustees have made a resolution referred to in subsection (3), the property may be dealt with and applied for the use or benefit of the Church for such purposes as are declared by resolution of the corporate trustees.

Research tools for this sectionPro

The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.