It shall be lawful for the Commissioners to take a Conveyance of, and hold without Licence in Mortmain, any Lands or Hereditaments which they may consider suitable and convenient for Annexation to any Benefice with Cure of Souls, and it shall also be lawful for the Commissioners, in any Case in which they hold any Cash or Stock for or on account of a Benefice, to appropriate such Cash or Stock to the Purchase of any Land to be so conveyed, and if and when the Commissioners may have inserted in any Conveyance so taken by them under the Authority of this Section a Declaration to the Effect that such Lands or Hereditaments are intended by the Commissioners to form Part of the Endowment of the same Benefice, and have affixed to such Conveyance the Corporate Seal of the Board, in such Case that Conveyance shall without any further Formality be effectual in Law for vesting in the Incumbent of such Benefice for the Time being the Estate and Interest acquired by such. Conveyance, and every such Deed of Conveyance shall be deposited in the Registry of the Diocese in which the Benefice affected thereby shall be situate.