Section 5 (2).
SECOND SCHEDULEU.K. Property vested in Queen Anne’s Bounty which is to be deemed Welsh Ecclesiastical Property
Property which belongs to or is appropriated to the use of any ecclesiastical office or cathedral corporation in the Church in Wales, or the holder of any such office as such, except, in the case of any such property which consists of, or is the produce of, or is or has been derived from grants made by Queen Anne’s Bounty out of the Royal Bounty Fund such part thereof as has been derived from sources other than Welsh sources.
Two-thirds of each grant made by Queen Anne’s Bounty out of the Royal Bounty Fund, shall, for the purposes of this Schedule, be deemed to have been derived from sources other than Welsh sources.