New M.S.C.C. By-law

Text of motion: Resolved, That Clause 8 be adopted, after being amended by the insertion of the word "investment" in the fourth line.

Notes: (8) The interest and profits authorized and approved by the Joint Investment Committee as received on or deemed to be earned on the securities belonging to said Consolidated Trust Fund after deducting therefrom the expenses of management and administration including necessary clerical investment assistance and the travelling expenses of the members of the Joint Investment Committee, and any deductions authorized by section 9 hereof, shall be distributed pro rata between the corporations entitled thereto in proportion to the capital, as fixed by the Joint Investment Committee held by each corporation, and paid over to the Treasurer of each corporation quarterly or monthly as directed by the Joint Investment Committee, and the amounts as received by the General Treasurer of the General Synod of the Church of England in Canada and the General Treasurer of the Missionary Society of the Church of England in Canada shall be divided pro rata among the several trusts entitled thereto in proportion to the capital held by each trust as fixed by the Joint Investment Committee.

Subjects: Church of England in Canada. Joint Investment Committee; Missionary Society of the Church in Canada (M.S.C.C.) - Finance; Finance - Anglican Church of Canada; Anglican Church of Canada - Trusts and trustees