WHEREAS the Church Property Trustees is a body corporate constituted under and by virtue of certain Ordinances of the Superintendent and Provincial Council of the late Province of Canterbury intituled respectively the Church Property Trust Ordinance Session II No. 3 and the Church Property Trust Amended Ordinance 1867: And whereas the Church Property Trustees holds certain real and personal property upon trust for the purposes set out in Part II of the Church Property Trust (Canterbury) Act 1879, being the property described in that Act and commonly known as the Bishopric estate: And whereas, after making provision for certain primary charges upon the income of the Bishopric estate, Part II of that Act provides for the application of that income for certain purposes specified in section 10 of that Act: And whereas one of those purposes is to make provision for special training of candidates for holy orders: And whereas it is considered desirable to make certain provision for post-ordination training: And whereas a further purpose of section 10 is the provision or payment of any travelling allowance or allowances to the Bishop of Christchurch, or any coadjutor, suffragan, or other Bishop mentioned in paragraphs (3) and (4) of that section: And whereas it is considered desirable to make similar provision for the payment of such an allowance to the spouse of the Bishop of Christchurch: And whereas section 57a of that Act (as enacted by section 2 of the Church Property Trust (Canterbury) Amendment Act 1934) empowered the Church Property Trustees to amalgamate certain investments of a kind described in subsection (1)(a) of that section to form one investment fund to be called in the books of the Church Property Trustees the “Amalgamated Mortgages and Securities Investment Fund”: And whereas that section also made provision, following that amalgamation, for the establishment by the Church Property Trustees of a Reserve Fund, and provided in subsection (8) of that section for the investment of the Reserve Fund in New Zealand Government securities and in such local body debentures or securities as are trustee investments: And whereas it is considered desirable to alter this power of investment in the manner set out in this Act: And whereas the objects of this Act cannot be attained otherwise than by legislation: