[F15BDistribution of income to other diocesesE

(1)Money standing to the credit of the income account of the diocesan stipends fund of a diocese, and which the diocesan board of finance is satisfied does not need to be applied for a purpose specified in section 5(1), may be applied in accordance with this section.

(2)The diocesan board of finance may transfer the money concerned—

(a)to the income account of the diocesan stipends fund of another diocese, or

(b)to the account held for the purposes of this section by the Archbishops’ Council or by another charity (whether established before or after the passing of this Measure).

(3)Where money is transferred under subsection (2)(b), the charity, having decided to which diocese or dioceses to give the money, must—

(a)if it decides to give the money to one diocese only, transfer it to the income account of the diocesan stipends fund of that diocese;

(b)if it decides to give separate portions of the money to different dioceses, transfer each portion to the income account of the diocesan stipends fund of the diocese concerned.]

Textual Amendments