Financial provisions
36 Provisions with respect to loans to Diocesan Boards of Finance.
1
The Commissioners shall have power to make to a Diocesan Board of Finance, and any such Board shall have power to receive, loans of such amounts, on such terms, and subject to the payment of interest at such rate, as the Commissioners think fit for any or all of the following purposes:—
a
the acquisition of any land to be held by the Board as part of the diocesan glebe land of the diocese;
b
the development or improvement of any such land and the safeguarding of the amenities thereof;
c
the discharge of any principal or interest owing under any mortgage on any such land; and
d
the provision, development or improvement of parsonage land and the safeguarding of the amenities thereof.
F12
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
In this section “development”, in relation to a building, includes the division or demolition thereof.