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

Notes: (9) In the event of any default in payment of the principal of or the interest on any security, or if in the opinion of the Joint Investment Committee there has been a depreciation in the value of any security, the Joint Investment Committee shall have power from time to time to deduct the amount of such default or depreciation from the total of the interest and profits for that year or to direct that it be spread over a period not exceeding three years.

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