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Ecclesiastical Leasing Act 1858

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IIIPower to raise Money to be paid for Equality of Exchange or Partition.

For the Purpose of raising any Sum or Sums of Money which may be agreed to be paid for Equality of Exchange or Partition, or for the Purchase of any Freehold Land, or of any outstanding Leasehold Interest in Land, belonging to any Ecclesiastical Corporation, over and above the Money then belonging to such Corporation and available for any such Purpose as aforesaid, it shall be lawful for every such Corporation, with such Approval and Consents as aforesaid, to borrow the same upon the Security and to execute a Mortgage or Mortgages of all or any Part or Parts of the Hereditaments belonging to such Corporation, for any Term or Terms of Years, redeemable on Payment of the Principal Sum or Sums so borrowed, with Interest for the same; and the Principal Money so secured may be discharged out of any Principal Monies belonging or accruing to such Corporation under the said recited Act or this Act or otherwise.

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