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(1)Arrangements may be made under the authority of the Ecclesiastical Commissioners to enable a university or college to purchase, out of any of the corporate funds or revenues thereof, advowsons of benefices and any rights of perpetual presentation or nomination to benefices, whether such benefices are or are not annexed to, or held by, or in trust for, the university or college, or the head or other member of the college.
(2)The Lands Clauses Consolidation Act, 1845 (except such parts thereof as relate to the purchase of lands otherwise than by agreement, and to the recovery of forfeitures, penalties, and costs, and to the sale of superfluous lands), shall be incorporated with and form part of this section, and as if the university or college in each particular case had been inserted therein instead of
“the promoters of the undertaking”: Provided that the powers by the said Act vested in. the promoters of the undertaking shall be exercised only by a university or college with the consent of the Ecclesiastical Commissioners.
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