ECCLESIASTICAL COMMISSIONERS (LOANS FOR CHURCH TRAINING COLLEGES) MEASURE 1931 No. 2)

1 Power to make loans for expenditure on Church of England Training Colleges. U.K.

(1) The [F1 Church Commissioners] (who are hereinafter referred to as “the Commissioners”) may, notwithstanding any statutory or other restriction or limitation of their powers of investment, out of capital funds held by them, the income from which forms part of their [F1 general fund], from time to time lend such sums as the Commissioners may think fit for the purpose of defraying expenditure upon buildings or lands belonging to or to be provided for any Church of England Training College for Teachers, and so that any such loan may be made either to the Central Board of Finance of the Church of England or, if the Central Board of Finance shall so request, directly to any such College.

(2) Any such loan by the Commissioners may be made upon such real or personal or partly real and partly personal security as the Commissioners may accept, and upon such terms and conditions as to interest and repayment of principal, as to approval of expenditure, and as to the source from which payments in respect of interest or principal shall be made as the Commissioners may approve.

Textual Amendments

F1 Words substituted by virtue of Church Commissioners Measure 1947 (No. 2), s. 18(2)

Modifications etc. (not altering text)

C1 S. 1: transfer of functions (1.1.2008) by National Institutions of the Church of England (Transfer of Functions) Order 2007 (S.I. 2007/1556), arts. 1(1), 2 (with art. 3)