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Paragraph 50

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

In section 52, in subsection (5) (investment of sums held in relation to repair of chancels)—

(a)

for “in any investment permitted by law for the investment of trust funds, and the yearly income resulting therefrom shall be applied,” substitute “ in any investments in which trustees may invest under the general power of investment in section 3 of the Trustee Act 2000, and the annual profits from the investments shall be applied ”; and

(b)

in paragraph (iii) for “any residue of the said income not applied as aforesaid in any year” substitute “ any residue of the profits from the investments not applied in any year. ”