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SUSTENTATION FUND ACT 1988 (BALLARAT DIOCESE)

No. 18
SUSTENTATION FUND ACT 1988

ADMINISTRATION OF THE SUSTENTATION AND
CHURCH EXTENSION FUND IN THE DIOCESE

1. The capital of the Sustentation and Church Extension Fund of the Diocese of Ballarat shall consist of the existing Capital of such Fund and of such additions as may hereafter be made thereto.

2. The Fund shall be administered by the Bishop-in-Council who shall cause to be prepared yearly an audited statement of accounts for the previous financial year and shall present the same to next ensuing session of Synod.

3. All investments shall be made in the name of The Ballarat Diocesan Trustees and invested according to The Ballarat Diocesan Trustees and Powers of Investment Act.

4. The Income arising from the monies so invested of the said Fund shall after paying thereout all costs charges and expenses of and incidentals to and attending the administration of the Fund be added to the income of the Central Diocesan Fund.