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Application of Consideration Moneys in Cases where Enfranchisements might have been effected under 14 & 15 Vict. c. 104.
Appropriation of Enfranchisement Moneys in Cases of Ecclesiastical Manors.
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V. Whenever it shall appear to the Copyhold Commissioners that an Enfranchisement under the Copyhold Acts is one which might have been effected under the Provisions of the Act of the Fourteenth and Fifteenth of Her Majesty, Chapter One hundred and four, intituledAn Act to facilitate the Management and Improvement of Episcopal and Capitular Estates in England, so long as that Act or any Act for continuing the same shall be in force, the Moneys or Rentcharges which form the Consideration of such Enfranchisement shall be paid and applied to the same Account and in the same Manner as if such Enfranchisement had been effected under the said Act of the Fourteenth and Fifteenth of Her Majesty; and all the Provisions of the said last-mentioned Act which affect the Application of Enfranchisement Moneys under that Act shall be applicable to such Enfranchisements as aforesaid, made under the Provisions of the Copyhold Acts; and the Church Estates Commissioners and Ecclesiastical Commissioners shall respectively have the same Powers over such Consideration Moneys or the Interest accruing thereon, or upon Land, Rentcharges, or Securities acquired in respect of such Enfranchisements, and also over or against any Ecclesiastical Corporation interested therein, as such Commissioners respectively would have had if such Enfranchisement had been effected with the Consent of the Church Estates Commissioners, and under the Provisions of the said Act of the Fourteenth and Fifteenth of Her Majesty or any Act continuing the same: But where any Ecclesiastical Corporation within the Meaning of the said last-mentioned Act or the said Ecclesiastical Commissioners have only a Reversionary Interest in the Manorial Rights extinguished by Enfranchisement, the Consideration for such Enfranchisement shall be dealt with in the Manner directed by the Thirty-ninth Section of “The Copyhold Act, 1852,” until the Time when the said Reversionary Interest in the same Manorial Rights would, if the same had not been extinguished, have come into possession, when the said Consideration, or any Government Securities in which it may have been invested, shall, upon Petition to the Court of Chancery, be paid or transferred to the said Church Estates Commissioners, who shall be considered the Parties become absolutely entitled to such Money, to be dealt with as if they had come into possession thereof in consequence of an Enfranchisement effected under the said Act of the Fourteenth and Fifteenth of Her Majesty.
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