5. Sinking fund
(1) A sinking fund shall be established by the Commissioners with the approval of the General Assembly, for the following purposes: ¾
(a) To pay off any mortgage or other liability existing on any land, building, or other property belonging to any congregation, which is held in trust by the Commissioners.
(b) To pay off any mortgage or other liability existing on a college, building, institution (except on the property of a separately incorporated mission or institution) or any other property held in trust by the Commissioners.
(c) For the creation of a fund for the purchase or erection of any church, manse, school, or other building required for the work of the Church in Western Australia.
(2) The contributions to the sinking fund shall be in accordance with the scheme and regulations approved by the General Assembly. Such scheme and regulations shall be administered by the Commissioners or a special committee appointed by the General Assembly, and such scheme and regulations shall be binding on all congregations, school councils, boards of management, and other committees of the Church excluding any mission and institution that has been separately incorporated as provided in section 21 of the Presbyterian Church Act 1908.
[Section 5 amended by No. 19 of 1964 s. 10.]