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Church Property (Miscellaneous Provisions) Measure 1960

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16 Distribution of the tithe maintenance fund.U.K.

(1)The Commissioners may at such date as they may determine divide the common fund established under section thirty-eight of, and paragraph 1 of the Eighth Schedule to, the Tithe M1Act 1936 (which fund is commonly known as the tithe maintenance fund) in the following manner, that is to say:—

(a)three-fifths of that fund shall be transferred by the Commissioners, in such proportions as they may determine, to the capital accounts of the diocesan stipends funds established under the M2Reorganisation Areas Measure 1944 and the M3Pastoral Reorganistion Measure 1949; and

(b)the remainder of that fund shall be held by the Commissioners as part of the capital of their general fund.

(2)Upon the transfer of part of the tithe maintenance fund to a diocesan stipends fund under the last foregoing subsection, the making of such payments as are mentioned in the said paragraph 1, being payments required to be made thereunder to persons entitled to receive the emoluments of benefices in the diocese concerned, shall be a charge on the income account of that diocesan stipends fund, and, in so far as the income from the part of the tithe maintenance fund so transferred is not sufficient to meet those payments, the Commissioners shall pay out of their general fund into the income account of the diocesan stipends fund a sum equal to the difference between the amount of the said income and the amount required to meet those payments.

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