Article 3 Payments to the Trust

(1)

In respect of the funding period the total amount of grants to be made by the Commissioners under section 44(10) of the 1983 Measure shall not exceed £3,948,000.

(2)

In respect of the funding period, the maximum amount of the payments to be made to the Trust under section 52 of the 1983 Measure^f1 out of the remaining one–third of the net proceeds and net premiums referred to in that section shall be £1,000,000 and any such payments shall be applied towards the sum specified in sub–paragraph (1) above.

(3)

In respect of the funding period, and subject to paragraph 4 below, the balance of the sum specified in sub–paragraph (1) above shall be paid to the Trust in such amounts as the Commissioners shall determine—

(a)

either, under section 53(1)(c) of the 1983 Measure, as a sum additional to the sum specified in sub–paragraph (2) above from any remaining balance of the one–third of the net proceeds and net premiums referred to in section 52 of the 1983 Measure, or

(b)

by way of grants by the Commissioners under section 44(10) of the 1983 Measure.

Annotations

Footnotes

f1: As amended by the Church of England (Miscellaneous Provisions) Measure 2005 (2005 No.3).