(1)The Church Commissioners shall pay out of their general fund to the dean of each cathedral and to two residentiary canons of each cathedral who are engaged exclusively on cathedral duties such sums by way of stipend or other emoluments as the Commissioners may from time to time determine.
(2)The Chapter of a cathedral may, with the consent of the Church Commissioners, pay to the dean or to any residentiary canon to whom the Commissioners are required to make a payment under subsection (1) above such additional stipend or other emoluments as they may think fit.
Where any person is appointed dean of a cathedral or is appointed a residentiary canon whose stipend is to be paid by the Church Commissioners in accordance with the provisions of section 21 above, the Commissioners shall have power to make out of their general fund to that person a grant towards removal expenses incurred by him.
The Church Commissioners shall have power to make out of their general fund such grants as they may from time to time determine for the payment of—
(a)the stipend or other emoluments of any clerk in Holy Orders holding office in the cathedral, other than a dean or residentiary canon;
(b)the salary or other emoluments of any lay person employed in connection with the cathedral.
The Church Commissioners shall have power to make out of their general fund to any cathedral such grants as they may think fit for the purpose of securing the better provision of houses for clerks in Holy Orders who hold office in the cathedral.
The Church Commissioners shall have power to make out of their general fund to any cathedral such grants as they may think fit for the repair of any chancel, other than the chancel of the cathedral, which that body is wholly or partly liable to repair.
The Chapter of any cathedral shall have power to borrow money for any purpose connected with the cathedral:
Provided that if the purpose for which the money is to be borrowed is such that the use of moneys forming part of the endowment of the cathedral for that purpose would require the consent of the Church Commissioners, then the consent of the Church Commissioners shall be required for the borrowing of that money under this section.
(1)The Chapter of any cathedral shall maintain proper records of income and expenditure, assets and liabilities, and shall prepare an annual report and accounts which show a true and fair view of the transactions throughout the year and of the position at the end of the year in accordance with best professional practice and standards.
Those accounts shall be audited by a person who may, under section 43 of the [1993 c. 10] Charities Act 1993, audit the accounts of a charity.
(2)The Church Commissioners shall have the power to specify what constitutes best professional practice and standards relating to the report and accounts, and to enquire into any departure from those practices and standards.
(3)A copy of the annual report and audited accounts prepared by the Chapter in accordance with subsection (1) above shall be—
(a)sent to the Church Commissioners and to any other person who requests it, and
(b)displayed in a prominent position in or in the vicinity of the cathedral.