Parsonages Measure 1938 (repealed)

5 Application of moneys derived from sales. E

(1)Subject to the provisions of this section, [F1the Church Commissioners] shall in their discretion apply and dispose of any moneys arising from any sale [F2or exchange] under this Measure of any part of the property of a benefice for one or more of the following purposes (that is to say):—

(i)in payment of the costs, charges and expenses of such sale [F2or exchange];

(ii)for or towards any one or more of the purposes of the powers contained in paragraphs (i) and (ii) of subsection (1) of section two [F2and in subsection (1) of section two A] of this Measure;

(iii)in repayment of any money expended with the [F3previous consent of] the [F4 Board] for the purpose of rendering the property sold [F2or exchanged] more readily saleable [F2or exchangeable];

(iv)if and in so far as the income derived from any moneys arising from any sale [F2or exchange] under this Measure pending the application and disposition of such moneys under the foregoing paragraphs of this subsection shall be insufficient for this purpose, in payment to the incumbent of the benefice affected of the whole or any part of the expenses reasonably incurred by him in respect of his removal from one residence house to another, the storage of his furniture, and the rent paid by him for any temporary residence pending his occupation of the new residence house of the benefice: provided that no payment shall be made under the provisions of this paragraph unless the consent of the bishop and the [Board] shall have first been obtained; and

[F5(iv)(a)In repaying to an incumbent or incumbents such amounts as he or they may have paid to [F1the Church Commissioners] in reduction of a loan made by them for or towards the erection or purchase of a residence house;]

[F5(iv)(b)In repaying to [F1the Church Commissioners] the whole or any part of any grant made by them for or towards the erection or purchase of a residence house.]

F6(v). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)Provided that in any case where such moneys shall have arisen from the sale [F2or exchange] of property purchased originally or built or improved either wholly or in part by means of a loan . . . F7, . . . F8, or which is subject to any mortgage or charge in favour of [F1the Church Commissioners], arising under any . . . F7Act or Measure, . . . F7 and any principal money [F9or interest] shall remain owing on account of such loan or under such mortgage or charge, [F1the Church Commissioners] may apply such moneys in or towards the discharge of such principal money [F9or interest].

[F10(3)Any moneys arising from any sale or exchange of any part of the property of a benefice under this Measure, in so far as they shall not be applied and disposed of under the foregoing provisions of this section or under section 36(2) of the Endowments and Glebe Measure 1976 [F3and the Commissioners are satisfied that they should not be so applied or disposed of, shall be allocated] to the capital account of the diocesan stipends fund of the diocese to which the benefice belongs or to the pastoral account of that diocese, or partly to one and partly to the other as the diocesan board of finance may determine.]

[F11(4)The Board shall provide the Commissioners with such information as they may require concerning transactions under this Measure affecting property.]