Queen Anne's Bounty Act 1840

V Endowments accepted under the last-recited Act by the Governors to be (except in special Cases) sub-ject to the same Rules as if they had been appropriated by the Governors.

And whereas by an [2 & 3 Vict. c. 49.] Act passed in the Second and Third Years of the Reign of Her present Majesty (Chapter Forty-nine), intituled An Act to make better Provision for the Assignment of Ecclesiastical Districts to Churches or Chapels augmented by the Governors of the Bounty of Queen Anne, and for other Purposes, after reciting that it was expedient to make Provision for the more permanent Security of the Endowments and Emoluments which should have been or might thereafter be provided for the Use or Benefit of any Church or Chapel, whether built, acquired, or appropriated, or to be built, acquired, or appropriated, under the Authority of certain Acts therein recited or referred to, or of any of them, or under any other Authority, or for the Use or Benefit of the Incumbent of any such Church or Chapel, or of the Spiritual Person serving the same, it was enacted, that it should and might be lawful for the said Governors of the Bounty of Queen Anne to accept, take, and hold any such Endowments and Emoluments upon the Trusts and for the Intents and Purposes for which the same should have been or might thereafter be given or granted by the Person or Persons providing the same, in like Manner as any such Endowments or Emoluments might then be taken or held by any private Trustees or Trustee; and that it should and might be lawful for any Trustees or Trustee of any such Endowments or Emoluments to assign and transfer the same to the said Governors of the Bounty of Queen Anne, to be held and applied by them upon the same Trusts and for the same Intents and Purposes as the same previously to such Assignment and Transfer were held by such Trustees or Trustee : And whereas it is expedient to make such further Provision as is herein-after contained for the Application and Disposition of all Endowments and Emoluments accepted by or assigned to or to be accepted by or assigned to the said Governors under the aforesaid Provisions of the last-recited Act; be it therefore further enacted, That all Endowments and Emoluments whatsoever already accepted or taken by or assigned or transferred to, or to be hereafter accepted or taken by or assigned or transferred to, the said Governors, under the aforesaid Provisions of the last-recited Act, and the Money, Stocks, Parliamentary or other Funds or Securities, Land, Hereditaments, or other Property of which the same respectively may consist, shall, so far as Circumstances will permit, and subject and without Prejudice to the Trusts, Intents, and Purposes upon and for which the same shall have been given or granted by the Person or Persons providing the same, be appropriated by the said Governors to the particular Benefice for which the same respectively shall have been provided, and be applicable and disposable by them for the Benefit and Augmentation of such Benefice, in such and the same Manner, and with such and the same Powers of Investment in the Purchase of Land, and Exchange for other Lands and Hereditaments, and otherwise, and other Powers and Authorities, in all respects, according to the Rules, Orders, and Constitutions for the Time being in force for the Management of the Bounty of Queen Anne, as if the Money, Stock, Land, Hereditaments, or other Property of which such Endowments and Emoluments may respectively consist had been originally provided or appropriated by the said Governors out of the Funds at their Disposal for the Benefit and Augmentation of the same Benefice.