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 Multi Academy Trust Model for Church of England Schools
(v) the investment policy and the delegation arrangement are reviewed at least once a year;
(vi) all payments due to the financial expert are on a scale or at a level which is agreed in advance and are notified promptly to the Directors on receipt; and
(vii) the financial expert must not do anything outside the powers of the Directors;
o) to arrange for investments or other property of the Company to be held in the name of a nominee company acting under the control of the Directors or of a financial expert acting under their instructions, and to pay any reasonable fee required;
p) to provide indemnity insurance to Directors and the members of any Local Governing Body (to the extent necessary) in accordance with, and subject to the conditions of section 232 to 235 of the Companies Act 2006, section 189 of the Charities Act 2011 or any other provision of law applicable to charitable companies and any such indemnity is limited accordingly;
q) to establish subsidiary companies to carry on any trade or business for the purpose of raising funds for the Company;
r) to do all such other lawful things as are necessary for or are incidental to or conducive to the achievement of the Object and appropriate to the religious character of the Academy.
6.1 The income and property of the Company shall be applied solely towards the promotion of the Object.
6.2 None of the income or property of the Company may be paid or transferred directly or indirectly by way of dividend bonus or otherwise by way of profit to any member of the Company. Nonetheless a Member of the Company who is not also a Director may:
(a) benefit as a beneficiary of the Company;
(b) be paid reasonable and proper remuneration for any goods or services supplied to the Company;
(c) be paid rent for premises let by the Member of the Company if the amount of the rent and other terms of the letting are reasonable and proper; and
(d) be paid interest on money lent to the Company at a reasonable and proper rate,
23 August 2013 v5 33827/20/020914155845.docx VN 1 090214 15-58-00

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