Where the Commissioners are authorized or required under this Act to pay any capital sum in respect of any commuted annuity, they may, if they think fit, instead of paying such sum at once, elect to pay the same by half-yearly instalments, not exceeding eight in number, together with interest at the rate of three and a half pounds per cent. on any part of the capital for the time being remaining unpaid.
Where the representative body of the said Church is liable to pay any capital sum to the Commissioners, such capital sum may be paid by twenty-two yearly instalments, with interest at the rate of three and a half per cent. on the amount of the purchase money remaining unpaid, to be secured in such manner as the Commissioners think expedient.