Beneficiary Fund of the Presbyterian Church of Australia in the State of New South Wales Act 1929 (NSW)

BENEFICIARY FUND OF THE

PRESBYTERIAN CHURCH OF

AUSTRALIA, IN THE STATE OF

NEW SOUTH WALES ACT.

An Act to validate certain arrangements, acts, and regulations heretofore entered into, done and made, relating to the Beneficiary Fund of the Presbyterian Church of Aus­ tralia in the State of New South Wales, and to confer upon the General Assembly of the said Church power to regulate and control the said Fund in all respects, including membership, basis or rate of contribution, and other conditions of the same, and to extend the benefits of the said Fund to persons not resident in the said State; and for other incidental purposes. [Assented to, 5th April, 1929.]

WH E R E A S by enac tmen t of t he General Assembly of t h e Presby te r i an C h u r c h of N e w Sou th

W a l e s in t he year one thousand e ight h u n d r e d and

n ine ty - th ree cer ta in Regu la t ions were adopted for t he

control a n d m a n a g e m e n t of a Fund designated t he

" A g e d and In f i rm Minis te rs ' F u n d , " which said F u n d

w a s for the benefit of minis ters in t h e P resby te r i an

C h u r c h of N e w Sou th W a l e s , Professors of Div in i ty ,

discharge	of	the i r	official	d u t i e s :	A n d	whereas	by
e n a c t m e n t	of	t h e	Genera l	Assembly	of	t he	Presby te r i an

Church of N e w South W a l e s in t h e year one t housand

e igh t hund red and n ine ty -e igh t cer ta in Regula t ions

were adopted for t h e control a n d m a n a g e m e n t of an Associat ion designated " The Association for t he Relief of W i d o w s and O r p h a n s of Minis ters of t h e Presby­

te r i an C h u r c h of N e w South W a l e s , " and which said

Regu la t ions provided ( inter alia) t h a t t he said Associa­ t ion should consist of all minis ters of t h e said last- men t ioned C h u r c h who should jo in the same and

con t inue m e m b e r s thereof in m a n n e r in the said

Regu la t i ons prescribed, and fu r ther provided cer ta in benefits to t he widows and orphans of t he member s of t he said Association from the paymen t s to t he funds of t h e said Association by i ts member s and al l accret ions to t h e said funds to t he e x t e n t a n d subject to t h e condi t ions in t h e said Regu la t i ons prescribed : And whereas by enac tmen t of t he General Assembly of t he P re sby te r i an C h u r c h of Aus t ra l i a in the S ta te of N e w Sou th Wales , in whose hands and unde r whose control t h e admin is t ra t ion of the said Aged and Inf i rm Min i s t e r s ' F u n d and of t he funds of t he said The Association for t h e Relief of Widows and Orphans of Minis te rs of t h e Presbyte r ian C h u r c h of N e w Sou th

W a l e s is vested by and in accordance wi th t h e

Regu la t ions to t h e said Aged and In f i rm Min i s t e r s '

Fund and t h e said Association apper t a in ing , in t he yea r one thousand n ine hundred and twenty-one , t he said Aged a n d In f i rm Minis ters ' Fund and the funds of t h e

said The Associat ion for t he Relief of Widows and

O r p h a n s of Minis ters of t h e Presbyter ian C h u r c h of

N e w Sou th W a l e s were ama lgama ted , and all moneys and securi t ies be longing to t he said funds so amalga­ ma te d as aforesaid were t ransferred to and became vested in t he corpora te t rus tees of t he said C h u r c h

for behoof of t h e said a m a l g a m a t e d fund , a n d a

commi t t ee to be known as t he Beneficiary	Fund
Commi t t ee was du ly appoin ted by the said	Genera l

Assembly for the adminis t ra t ion	of t h e said	a m a l g a m a t e d
F u n d , wh ich was thereaf te r	to be called t he	Beneficiary

Sta te of N e w South W a l e s : A n d whereas by resolut ion of the said las t -ment ioned Genera l Assembly in t he year one thousand n ine hund red and twenty- four i t was affirmed t h a t i t was advisable to ex tend the scope of t h e said Beneficiary F u n d and the powers of t h e said General Assembly in re la t ion there to by A c t of Par l ia­ m e n t : A n d whereas by resolut ion of t he said Genera l Assembly in the said las t -ment ioned year i t was affirmed t h a t minis ters and widows and orphans of minis ters of t h e Presby te r ian C h u r c h of Aust ra l ia in t he S ta te of W e s t e r n Aus t ra l i a should be admi t t ed to t h e benefits of t h e said Beneficiary F u n d upon such t e rms and condi­ t ions as the said General Assembly m i g h t approve : A n d whereas the re stand to t he credit of t he said Beneficiary F u n d large sums of money and va luab le secur i t i es : A n d whereas t he r e are m a n y persons interested in t he said Beneficiary F u n d as beneficiaries p u r s u a n t to t he regula t ions apper ta in ing to t h e said

F u n d , some of w h o m are infants or otherwise incapable

of consen t ing to t he a r r angemen t s and a l te ra t ions

hereinbefore m e n t i o n e d : A n d whereas doubts have arisen as to t h e powers and au tho r i t y of t he said General Assembly in respect of t he said ama lgamat ion and the said control , adminis t ra t ion , a n d regula t ion of t h e said Beneficiary F u n d and the moneys and securit ies there ­ u n t o apper ta in ing , and as to t h e admission to t h e said Beneficiary F u n d of minis ters and widows and orphans of minis te rs not be long ing to the Presby te r i an Church

of Aust ra l ia in t he Sta te of New Sou th Wales : Be i t

therefore enacted by the K i n g ' s Most Exce l l en t Majes ty ,

by and wi th the advice and consent of the Legis la t ive

Counci l a n d Legis la t ive Assembly of N e w Sou th W a l e s

in P a r l i a m e n t assembled, and b y t h e au tho r i t y or t h e

same as follows :—

1 . The ama lgama t ion of t he Aged and Inf i rm

Min is te r s ' F u n d of t h e Presbyte r ian C h u r c h of Aus ­

t ra l ia in t he S ta te of N e w Sou th Wales and the funds of t h e Association for t h e Belief of Widows and Orphans of Minis te rs of t h e Presby te r ian Church of N e w South Wales in a fund to be called the Beneficiary F u n d of

Beneficiary Fund , " directed to be car r ied in to execut ion b y t h e Genera l Assembly of t he P resby te r i an C h u r c h of

Aus t ra l i a in t he S ta te of N e w Sou th Wales , hereinaf ter

referred to as t h e " Genera l Assemb ly , " and to t a k e

effect from the first day of J u l y , one t housand n i n e

h u n d r e d and twenty-one , a n d al l t ransfers of t he said

funds and securi t ies m a d e to t h e corporate t rus tees of suan t to t h e execut ion of t h e said scheme of a m a l g a m a ­ t ion are he reby val idated and declared to have been of full force a n d effect bo th at law and in equ i ty according to t he tenor of t he resolut ions of t h e said Genera l Assembly and the regu la t ions m a d e in relat ion the re to as a n d from t h e first day of J u l y in t h e year one t housand n ine h u n d r e d a n d twen ty-one , a n d the said regula t ions are hereby val idated a n d are declared to have h a d full force a n d effect bo th a t l aw a n d in equ i ty f rom t h e said first day of J u l y in t h e yea r one t housand n ine h u n d r e d and twen ty-one , or t h e da te of the i r enac tmen t if subsequent to t h e said date .

t h e	said	C h u r c h	on	accoun t	of	t he	said	a m a l g a m a t e d
fund,	and	al l	acts	done	a n d	a r r a n g e m e n t s	m a d e	pur ­

A n d t h e Genera l Assembly is he reby empowered and au thor i sed to control and admin i s te r t h e Benefi­ c iary F u n d a n d for such purpose to enac t from t ime to t ime such regu la t ions as it m a y deem exped ien t for t he

2 .

g o v e r n m e n t of t h e Beneficiary Fund , a n y t h i n g in t h e

regula t ions of t he Aged and In f i rm Minis te rs ' Fund a n d

in t h e rules of t he Associat ion for t h e Belief of	W i d o w s
a n d Orphans of Minis ters of t h e P resby te r i an	Church of

N e w South W a l e s no tw i th s t and ing , and in pa r t i cu l a r

( bu t w i t h o u t l imi t ing t he genera l i ty of t h e genera l power of control hereby conferred) for t h e de te rmina­ t ion or a l te ra t ion of t h e basis or r a t e of con t r ibu t ion ,

the qualif ications of m e m b e r s h i p , t h e a m o u n t of benefit ,

and the condit ions a t t a c h i n g to t he Beneficiary Fund .

3 . The Genera l Assembly is hereby empowered to delegate to such commi t tee as i t m a y from t i m e to t ime appo in t t he genera l adminis t ra t ion of t he Beneficiary

Fund, and the acts and a r r a n g e m e n t s of all commit tees

Beneficiary Fund since t he said ama lgama t ion a re hereby va l ida ted and declared to have h a d full force a n d effect bo th a t law and in equi ty .

Al l moneys and securit ies or inves tments be long ing to t h e Beneficiary B u n d shal l be and remain vested in t h e corpora te t rus tees of t h e Presby te r ian C h u r c h of

4 .

Aus t r a l i a in t he S ta te of N e w South Wales and	shall
be appl ied by t h e m for t h e purposes of t he	Beneficiary

F u n d in accordance wi th t he regula t ions for t h e t i m e be ing of t h e Genera l Assembly re la t ing to t h e Bene­ ficiary F u n d . The corporate t rus tees shal l have such

powers of inves t ing t h e moneys be longing to t h e

Beneficiary F u n d and of va ry ing t h e securit ies a n d

inves tments t h e r e u n t o be longing as t h e y possess in

re la t ion to t h e propert ies , securit ies, and inves tmen t s

of t he Presby te r i an C h u r c h of Aus t ra l i a in t h e S ta te

of N e w South W a l e s in genera l .

5 . The Genera l Assembly is he reby empowered to a d m i t to t h e benefits of t h e Beneficiary F u n d such persons or class of persons as i t m a y approve, w h e t h e r res ident i n t h e S ta te of N e w Sou th Wales or no t , and u p o n such t e r m s a n d condit ions as to con t r ibu t ions , benefits, and otherwise as i t m a y deem proper .

T H E