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Ecclesiastical Commissioners (Powers) Measure 1938

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2 Amendment of the Glebe Lands Act, 1888. c. 20.E

(1)Notwithstanding anything contained in sub-section (4) of section four of the Glebe Lands Act 1888 all securities at any time hereafter bought out of purchase money arising under that Act and held by the [F1Church Commissioners] and all securities at any time hereafter bought or acquired by the [F1Church Commissioners] in or for effecting any variation of the investment of any such purchase money as aforesaid shall be entered in the books kept by any company in relation to those securities in the name of the [F1Church Commissioners] alone and stand in those books to their general account without any designation of a separate account or other reference to the benefice from which such purchase money shall have arisen.

(2)Any company in whose books there is standing in the name of the [F1Church Commissioners] on a separate account exparte any benefice any security bought out of or representing the purchase money under the M1Glebe Lands Act 1888 of the glebe of such benefice shall if and when so required by notice in writing under the seal of the Commissioners and upon production to the company of a copy of this Measure transfer such security from such separate account to the general account of the [F1Church Commissioners] and such notice together with the production of such copy as aforesaid shall be a sufficient authority for the company to make any such alterations in their books and in any stock certificate or other certificate relating to such account as may be necessary or proper for giving effect to the provisions of this subsection.

(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2

(4)In this section “company” includes the Bank of England and any body corporate, company or person keeping books in which any stock or other security is registered or inscribed.

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