Trustee Act 2000

Trustee Act 2000

2000 Chapter 29 - continued

SCHEDULE 2, MINOR AND CONSEQUENTIAL AMENDMENTS - continued

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PART III

MEASURES

The Ecclesiastical Dilapidations Measure 1923 (No.3)

50. In section 52, in subsection (5) (investment of sums held in relation to repair of chancels)-

(a) for "in any investment permitted by law for the investment of trust funds, and the yearly income resulting therefrom shall be applied," substitute "in any investments in which trustees may invest under the general power of investment in section 3 of the Trustee Act 2000, and the annual profits from the investments shall be applied"; and

(b) in paragraph (iii) for "any residue of the said income not applied as aforesaid in any year" substitute "any residue of the profits from the investments not applied in any year."

The Diocesan Stipends Funds Measure 1953 (No.2)

51. In section 4 (application of moneys credited to capital accounts) in subsection (1) for paragraph (bc) substitute-

"(bc) investment in any investments in which trustees may invest under the general power of investment in section 3 of the Trustee Act 2000 (as restricted by sections 4 and 5 of that Act);".

The Church Funds Investment Measure 1958 (No.1)

52. In the Schedule, in paragraph 21 (range of investments of deposit fund) for paragraphs (a) to (d) of sub-paragraph (1) substitute-

"(aa) In any investments in which trustees may invest under the general power of investment in section 3 of the Trustee Act 2000 (as restricted by sections 4 and 5 of that Act);".

The Clergy Pensions Measure 1961 (No.3)

53. - (1) In section 32 (investment powers of Board), in subsection (1), for paragraph (a) substitute-

"(a) in any investments in which trustees may invest under the general power of investment in section 3 of the Trustee Act 2000 (as restricted by sections 4 and 5 of that Act);".

(2) Omit subsection (3) of that section.

The Repair of Benefice Buildings Measure 1972 (No.2)

54. In section 17, in subsection (2) (diocesan parsonages fund's power of investment), for "who shall have the same powers of investment as trustees of trust funds:" substitute "who shall have the same power as trustees to invest in any investments in which trustees may invest under the general power of investment in section 3 of the Trustee Act 2000 (as restricted by sections 4 and 5 of that Act)."

The Pastoral Measure 1983 (No.1)

55. In section 44, for subsection (6) (Redundant Churches Fund's power of investment) substitute-

	"(6) The powers to invest any such sums are-
	(a) power to invest in investments in which trustees may invest under the general power of investment in section 3 of the Trustee Act 2000 (as restricted by sections 4 and 5 of that Act); and
	(b) power to invest in the investments referred to in paragraph 21(1)(e) and (f) of the Schedule to the Church Funds Investment Measure 1958."

The Church of England (Pensions) Measure 1988 (No.4)

56. Omit section 14(b) (amendment of section 32(3) of the Clergy Pensions Measure 1961).

The Cathedrals Measure 1999 (No.1)

57. In section 16 (cathedral moneys: investment powers, etc.), in subsection (1)-

(a) for paragraph (c) substitute-

"(c) power to invest in any investments in which trustees may invest under the general power of investment in section 3 of the Trustee Act 2000 (as restricted by sections 4 and 5 of that Act),", and

(b) omit the words from "and the powers" to the end of the subsection.

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Prepared 29 November 2000