Worcester Diocesan Sites and Buildings Fund

(A) THE HOLDING, INVESTING AND APPLYING THAT PART OF THE WORCESTER DIOCESAN SITES AND BUILDING FUND ORIGINALLY KNOWN AS " THE MILLION SHILLINGS FUND" TO WHICH THE DIOCESE IS ENTITLED, OR ANY ADDITION THERETO, OR ANY TRUST PROPERTY FOR THE TIME BEING, ALL WHICH MONEYS AND PROPERTY ARE HEREINAFTER COLLECTIVELY REFERRED TO AS "THE SAID FUND":(B) THE ACQUIRING BY GIFT, WITH OR WITHOUT ANY CONDITION AS TO BUILDING, ANY REAL OR PERSONAL PROPERTY OF ANY NATURE, WITH POWER TO GRANT SUCH REAL PROPERTY, WITH OR WITHOUT CONSIDERATION, TO ANY OTHER PERSONS;(C) THE LENDING OF PORTIONS OF THE CAPITAL OR INCOME OF THE SAID FUND, ON SUCH PERSONAL OR OTHER SECURITY AS THE TRUSTEES IN THEIR ABSOLUTE DISCRETION MAY THINK FIT, TO ANY PERSONS WHO ARE PROVIDING OR DESIRE TO PROVIDE FOR MINISTRATIONS IN ACCORDANCE WITH THE PRINCIPLES OF THE CHURCH OF ENGLAND, EITHER FOR THE PURCHASE OF SITES FOR MISSION ROOMS OR CHURCHES FOR SUCH MINISTRATIONS, IN NEW OR GROWING DISTRICTS WITHIN THE DIOCESE FOR WHICH THERE IS NOT ADEQUATE PROVISION, OR FOR THE BUILDING OF SUCH MISSION ROOMS OR CHURCHES. SUCH LOANS TO BE REPAYABLE OVER SUCH A PERIOD AND TO BEAR SUCH RATE OF INTEREST AS SHALL FROM TIME TO TIME BE DETERMINED BY THE TRUSTEES;(D) THE LENDING OF PORTIONS OF THE CAPITAL OR INCOME OF THE SAID FUND TO SUCH PERSONS AND ON SUCH TERMS AS THE TRUSTEES SHALL THINK FIT FOR THE FOLLOWING PURPOSES:(1) THE ACQUISITION OF SITES FOR CHURCH ROOMS, INSTITUTES, VICARAGES OR VICARAGE GARDENS, OR FOR ERECTING BUILDINGS ON SUCH SITES:(2) THE RESTORATION OF CHURCHES, CHURCH ROOMS OR INSTITUTES:(3) THE ENLARGEMENT OF CHURCHYARDS:(4) THE BUILDING ALTERATION OR RESTORATION OF SUNDAY SCHOOLS OR CHURCH OF ENGLAND DAY SCHOOLS.(E) THE PAYMENT OF GRANTS OUT OF THE INCOME OF THE SAID FUND FOR THE MAINTENANCE OF LICENSED CURATES TO BE PLACED IN CHARGE OF SUCH MISSION ROOMS OR CHURCHES OR OF MISSION ROOMS OR CHURCHES IN NEW OR GROWING DISTRICTS WHICH HAVE BEEN PROVIDED OTHERWISE THAN WITH THE AID OF THE SAID FUND OR FOR MAINTENANCE OF CLERGY AND/OR ACCREDITED LAY WORKERS INVOLVED IN THE DEVELOPMENT OF MISSION IN THE DIOCESE OF WORCESTER AND LICENSED FOR SUCH PURPOSES BY THE BISHOP AND WHETHER OR NOT USING FOR THOSE PURPOSES SUCH MISSION ROOMS OR CHURCHES.