5BDistribution of income to other dioceses

1

Money standing to the credit of the income account of the diocesan stipends fund of a diocese, and which the diocesan board of finance is satisfied does not need to be applied for a purpose specified in section 5(1), may be applied in accordance with this section.

2

The diocesan board of finance may transfer the money concerned—

a

to the income account of the diocesan stipends fund of another diocese, or

b

to the account held for the purposes of this section by the Archbishops’ Council or by another charity (whether established before or after the passing of this Measure).

3

Where money is transferred under subsection (2)(b), the charity, having decided to which diocese or dioceses to give the money, must—

a

if it decides to give the money to one diocese only, transfer it to the income account of the diocesan stipends fund of that diocese;

b

if it decides to give separate portions of the money to different dioceses, transfer each portion to the income account of the diocesan stipends fund of the diocese concerned.