1 Preparation and confirmation of schemes with respect to endowments and property of sees and stipends of bishops.E
(1)In the case of any see, the [F1Church Commissioners] (hereafter in this Measure referred to as “the Commissioners”), after consultation with the bishop and the diocesan board of finance, may, with the consent of His Majesty, prepare and submit to His Majesty in Council for confirmation a scheme for—
(a)vesting in the Commissioners for the purposes of this Measure all endowments and other property belonging to, or held in trust for, the see or the bishop; and
(b)securing to the bishop by way of a charge on their [F1general fund] such reduced stipend as the Commissioners deem appropriate:
Provided that, so long as the bishop who at the date of the passing of this Measure was in occupation of a see remains in occupation thereof, a scheme with respect to that see shall not be prepared except at his request, nor shall a scheme so prepared be submitted for confirmation unless, as finally settled, it has been approved by him.
(2)An Order in Council confirming a scheme shall be published in the London Gazette and, upon such publication, the scheme shall come into operation and shall have the force of law.
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